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Welcome to our Blog!
It's our goal to use this forum to educate, share insight and (dare I say?) entertain you, with our thoughts, ideas and interactions with the legal experiences common to us all. We'll use this space to share our stories and theories in a casual, relatable way that makes our practice more accessible.
But first, a little about us, your blog purveyors. We're young, energetic professionals who have been together since 2009 (who says a recession isn't a great time to start a business?). Although we're all from different backgrounds, we share an important trait-passion. We love what we do and we try to bring that sentiment to our firm everyday (naturally, some days it's easier to do than others!)
Since we opened our doors, we've successfully represented and continue to represent a broad array of clients in a wide variety of legal matters, from the routine to the complex.
So, without further ado...welcome to our blog! We hope that you enjoy reading it as much as we enjoy writing it! And if the mood should strike you, please know that your comments, questions and suggestions are always welcome to info@ozatlaw.com.
What are the Differences Between a Revocable Trust and an Irrevocable Trust?
Clients often ask when putting together their estate planning documentation how they can protect and distribute their assets without the need of going to court while at the same time making sure their loved ones will have access to their assets soon after they pass away. One of the most popular estate planning strategies available to people who have these types of concerns are trusts. A trust can insure a faster distribution of the assets to a deceased person's family. Bef
kosullivan03
Jan 3, 2024
When Can I Bring an Action for a Constructive Trust?
When we talk about a person’s real estate, we are in many cases talking about that person’s life savings. When we give other people our trust and control over our property we generally expect those people to act in good faith. But sometimes people will take advantage of our good faith and unjustly enrich themselves when they should be looking out for our best interest. If a person finds that someone they have entrusted with their property has defrauded them they may seek to h
Kevin O'Sullivan
Jul 22, 2020
The Basics of a 1031 Exchange
Many of our clients who regularly invest in real estate often use 1031 exchanges in order to defer their tax liability on investment properties by using the sales proceeds from the sale of one investment property to purchase a new investment property. Section 1031 of the IRS code contains the basic concept that if the investor didn’t personally receive the proceeds from the sale but instead had those proceeds held by a qualified exchange facilitator then there isn’t any incom
Kevin O'Sullivan
Apr 23, 2020
Buying New York City Property From Overseas
A question we are constantly being asked by our clients who live outside the United States is, can we purchase real estate in New York even though we are not American citizens? The answer is YES! The fact is people from all over the world buy real estate in New York City as a part of their asset diversification strategy. In our experience representing overseas purchasers the most common type of real estate they purchase are condominium apartments as they require no approval f
Kevin O'Sullivan
Apr 20, 2020
Considering A Contingency Fee Agreement
We understand that litigation can be expensive and cost prohibitive. Unfortunately for many parties that may have a valid claim the traditional law firm model of hourly billing can be too expensive for the party looking to start a lawsuit. At the law firm of O'Sullivan & Zacchea PLLC we can work with our clients on a contingency fee basis. This allows our clients to start a lawsuit when they normally might not be able to. It also gives our clients a level of comfort knowing t
Kevin O'Sullivan
Dec 27, 2019
What Happens If I Get Sued But Don’t Have Insurance?
There is no law requiring you to have homeowner's insurance. If you do not have a valid home owner’s insurance policy then the risk is all on you. A homeowner is personally liable for any injuries sustained on his or her property to the extent that they are found to be the cause of the negligence. This applies whether or not insurance is in effect. Insurance is used to pay for your attorney if you are sued and to pay claims against the homeowner up to the policy limit. Withou
Kevin O'Sullivan
Oct 23, 2018
What You Should Know About The Short Sale Process
As we have had many inquiries about the issues surrounding the process of completing a short sale we thought this article would be a helpful way to respond to those inquiries and provide some facts about the short sale process. Here you'll find some information on short sales and their challenges and the tools we can provide to help you navigate this process. What is a Short Sale? A short sale is a transaction in which the bank holding the mortgage agrees to accept less than
Kevin O'Sullivan
Apr 2, 2018
Your Great-Aunt's Fortune or A Kinship Proceeding in New York
When someone dies (a "decedent") without a will ("intestate"), their property must be distributed. In New York, the folks entitled to a...
Kevin O'Sullivan
Oct 14, 2015
Partition Action: Bringing A Lawsuit to Force a Co-Owner to Sell Property in New York
When two or more people own the same property one of the owners can force a sale of the property via a partition action.
Kevin O'Sullivan
Mar 12, 2015
The Delicate Process of Disinheritance
With Thanksgiving upon us and the rest of the holiday reasons shortly to follow, we recall Tolstoy's words: "Happy families are all alike; every unhappy family is un happy in its own way." It is in this spirit that we turn our attention to a common issue in estate planning -disinheritance. Disinheritance refers to the exclusion of an individual as a beneficiary of an estate. From a practical position, the decision to disinherit someone should not be lightly taken, as it may u
Kevin O'Sullivan
Nov 17, 2014
Landlords and Tenants: Can My Landlord Just Change My Locks?
It is every tenant's worst nightmare-to come home and find that the landlord has moved all of your belongings onto the street and changed the locks to your apartment while you were out. Relax! Fortunately, New York State law expressly forbids this type of "self-help." However, if you are having problems with your landlord, it is better to be proactive and talk to an attorney before things escalate. If you are behind on your rent or your lease has expired, you are in jeopardy
Kevin O'Sullivan
Sep 29, 2014
The First Step in Closing Your Co-op Transaction: Scheduling
In an earlier blog, we mentioned that common refrain: "It's just a simple co-op purchase." Phrased another, perhaps more accurate way, it's "the secured acquisition of the shares of a cooperative corporation and the concurrent assumptions of a proprietary lease". On second thought, that sounds too sophisticated and too expensive. We'd rather go back to living in our parents' place! Relax! An experienced, knowledgeable attorney will be able to translate the second sentence int
Kevin O'Sullivan
Sep 9, 2014
First Time Home Buyers- Do I Really Need A Lawyer?
Congratulations! Your offer was accepted. You're just days (actually, months) away from owning your first home. Your first yard. Your first boiler. Your first real estate taxes. Wait, we're getting ahead of ourselves. Congratulations! Your offer was accepted. What no? Our suggestions: call a lawyer. Better yet, call a lawyer with real estate experience, like us. We often hear a common refrain from first-time home buyer clients: "I have a simple matters; it's just a house purc
Kevin O'Sullivan
Sep 3, 2014
Advanced Directives: A Cautionary Tale
Estate planning documents, also commonly referred to as Advanced Directives, are vital to the safety and protection of your assets and personal well-being. As such, those instruments, especially Last Wills & Testaments, Health Care Proxies and Powers of Attorney, should be updated regularly, as families and personal situations change. We typically recommend revisions to your Advanced Directives after significant life events; such as marriage or divorce, the birth or adoption
Kevin O'Sullivan
Jun 28, 2014
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