Posts

Showing posts from 2023

Law Day 2023 Theme: "Cornerstones of Democracy: Civics, Civility, and Collaboration"

Image
Pete Weinman serves on the Richmond County Bar Association's Law Day Committee and is responsible for rounding up the students who make the yearly celebration worthwhile. ------------------------------------------------------------------------------------ Every year on May 1st, the Richmond County Bar Association celebrates Law Day, which underscores the importance of the rule of law and its role in our democratic society. This year's theme, "Cornerstones of Democracy: Civics, Civility, and Collaboration," is a call to action for all Americans to join forces in rebuilding trust in our institutions, fostering respect for one another, and enhancing our willingness to collaborate to address the challenges facing our nation. As we celebrate Law Day 2023, The Richmond County Bar Association invites all the people of Staten Island (and the rest of the United States, of course) to take this opportunity to rebuild trust in our institutions, show respect for one another, and b...

Home Selling Checklist.

Image
Here's a list of the most common documents your attorney will need when you sell your home, along with some valuable hints.  Written from my NY and NJ perspective (where I'm licensed) but should be the same, more or less, in other states (although you should check with a local attorney to confirm).   Obtain a copy of the deed.  As long as it was recorded by the County Clerk, the "original" is not usually needed, so don't worry if you cannot locate it. Confirm your name is spelled correctly.  If your name has changed since you purchased the property, locate documentation, like a marriage certificate or proof of legal name change, to establish your identity. Ensure you have (and make a copy of) valid government-issued photo identification (driver's license, passport) and any documentation for name changes or variations within the last ten years.  Confirm that your identification is not expired or about to expire, and ensure your name is spelled correctly on t...

Different Ways to Hold Title to Real Estate in New York.

Image
One aspect often overlooked when purchasing real estate in New York is how the property title is held. How you hold title to a property has significant implications for issues such as inheritance, liability, and tax consequences. Each option comes with its own set of advantages and limitations, so it's essential to carefully consider your specific circumstances and objectives before choosing a title-holding method. Sole ownership refers to a single individual holding the entire interest in a property. This option is common among single homebuyers or those who wish to keep the property separate from their spouse or partner. Highlights:  Full control over the property; Ease of transfer upon sale; and Upon the owner's death, the property passes through probate to heirs or beneficiaries according to the owner's will or, if there's no will, according to New York's intestacy laws. Tenancy in Common is a form of co-ownership where two or more parties hold an undivided in...

The Hidden Dangers of Co-Signing a Mortgage.

Image
There's no doubt that home ownership is part of the American Dream.  While co-signing a mortgage may seem like a noble gesture and, to some parents, a no-brainer, it's essential to understand the risks involved before making such a commitment. It's crucial to have open and honest conversations with the primary borrower about their financial situation and ability to repay the loan. Moreover, consider exploring alternative options, such as assisting with a down payment or exploring first-time homebuyer programs.  For this blog entry, I will not delve into the difference between a note and a mortgage; I will just use the term "loan." 1: Liability for the Entire Loan When you co-sign someone else's loan, you're not simply vouching for the borrower's creditworthiness – you're essentially taking on the responsibility of the entire loan. If the primary borrower defaults on the loan, you, as the co-signer, will be on the hook for the remaining balance. Thi...

Typical Closing Costs in New York City

Image
Closing Costs in New York City A Complete Guide for Buyers and Sellers By Pete Weinman, Staten Island Real Estate Lawyer   |   Updated May 2026   |   www.StatenIslandLaw.com When you are buying or selling a home in New York City — whether on Staten Island, in Brooklyn, Queens, the Bronx, or Manhattan — closing costs can be one of the biggest surprises of the transaction. I represent both buyers and sellers in residential real estate closings, and the question I get most often before closing day always comes down to the same thing: how much cash do I need to bring? This guide gives you a complete, current breakdown of every significant closing cost — for buyers and sellers — with real numbers based on how transactions actually work in 2026.   The Quick Answer: What Do Closing Costs Run in NYC?   Buyer Seller Typical range 3% – 6% of purchase price 4% – 8% of sale price* ...