Real Estate Attorney Bronx

At Milenkovic Law Group PLLC we represent purchasers, sellers and lenders in residential and commercial transactions.

We can handle all your legal real estate needs for individual buyers and sellers, as well as businesses and corporations. We handle both, commercial and residential transactions.

We can assist you with any of the following service areas:

Residential Closings

Commercial Closings

Bank Closings (Purchase, Refinance, CEMA)

Hard Money Representation

Residential Leases

Commercial Leases (retail, mixed use, office, etc.)

1031 Exchanges

Condominium Development Projects

Construction Contracts

Ownership Agreements

Drafting Lending Documents

Mortgage Financing and Refinancing Representation

Short Sales

Loan Modification

Note Purchase

Foreclosure Defense

Understanding the Types of Residential Properties

Much of New York is comprised of cooperative and condominium apartments with many areas of private homes. Each has distinct differences and advantages, which a prospective buyer must be aware of.

Cooperative Apartments

The basic consideration of cooperative ownership is that the individual residents do not own their apartments as real property; instead, they own a share of a corporation which gives to them the right to a long-term proprietary lease. Significantly, the tenant-owners, acting through the Board of Directors, have the right to approve or disapprove of all prospective owners, as well as any subleases contemplated. Because coops are corporations, New York has enacted significant statutory guidelines impacting their operations.

Condominiums

A condominium is real property that comes with a deed of ownership, yet what is owned does not include anything but the inside of the unit. The exterior space and common structures are all owned collectively by the individual owners. Although condos are typically easier to purchase or sell than are coops, condos do come with homeowners’ associations, which all individual owners must join. The association sets rules for a variety of activities and standards within the community, often referred to as CC&Rs, or covenants, conditions and restrictions. A condo owner in violation of the CC&Rs may be fined by the association.

Private Homes

Major issues in purchasing a single family or multi family home are a condition of the property and title issues.

Don’t let yourself be taken advantage of with your next real estate encounter, let an experienced attorney prepare, review and facilitate any contract or negotiation before you sign you name on any document.

Serving: Queens | Brooklyn | Manhattan