New York Court of Appeals Roundup: Rent Stabilization, Champerty, Lieutenant Governor Appointment
In their monthly column in the New York Law Journal, Roy Reardon and Mary Elizabeth McGarry discuss the recent decisions in which the Court of Appeals held that property owners cannot take advantage of luxury decontrol from rent stabilization during a period in which they took advantage of J-51 tax incentives, interpreted New York's champerty statute narrowly in a suit arising out of securitized mortgages, and rejected a challenge by certain state senators to Governor David Paterson's appointment of Richard Ravitch as Lieutenant Governor.