On Wednesday, April 3, 2019, Margaret Ling, AABANY Development Director and Real Estate Committee Co-Chair, and Pauline Yeung-Ha, Pro Bono Committee Co-Chair, presented a CLE and networking event entitled “Selling and Purchasing Real Property from an Estate.” The event was hosted by Flushing Bank at their Astoria branch and was co-sponsored by AABANY, KALAGNY, and Big Apple Abstract Corp.
Margaret and Pauline discussed the importance of doing your due diligence when selling or purchasing real property from an estate. They shared horror stories of clients trying to cut corners and scam the system. One story involved a separated husband and wife, where the wife claimed that the husband had passed away and tried to rush the closing on the sale of their house. After some investigation, it was discovered that the husband was alive and well in Greece. The moral of the story was that as real estate attorneys it is imperative to not blindly trust surrogates and extremely important to demand proof of death to prevent future liability and to protect your license.
Margaret and Pauline also discussed the tax implications and other liabilities that accompany the different types of estate structures, which included Joint Tenancy, Tenants in Common, Tenants by the Entirety, Life Estates, and Trusts. They advised that practitioners can save themselves a lot of trouble by taking the time to do their due diligence and by speaking to title companies.
We thank Flushing Bank and its staff for hosting the CLE panel for the evening. Thanks also to the speakers and everyone that attended. One CLE credit in the area of professional practice was awarded to attendees. To learn more about the Real Estate Committee, go to https://www.aabany.org/page/120.
On March 6, 2019, Margaret Ling, AABANY Co-Chair of the Real Estate Committee, presented the CLE entitled “Real Estate Fraud – Red Flags and War Stories” The CLE networking event took place at Knights of Columbus in Brooklyn and was co-sponsored by AABANY, KALAGNY, Northfield Bank and the Brooklyn Real Estate Board.
Thanks to Margaret Ling for the write-up and photo for this post.
On Friday, March 1, 2019, Margaret Ling, AABANY Development Director and Co-Chair of the AABANY Real Estate Committee, attended Governor Andrew M. Cuomo’s State of the State 2019 NYC Region Presentation. The meeting was by invitation only and was in collaboration with the Network of Bar Leaders. Margaret is on the Network of Bar Leaders Executive Council and is the AABANY representative on that Council. The meeting was presented by Alphonso David, Counsel to the Governor and past AABANY Annual Dinner Honoree. Alphonso spoke about the specifics of the Governor’s upcoming 2020 New York State Budget and the priorities of education, housing, health and hospital, and environmental issues.
Thanks to Margaret Ling for the write-up and photos for this post.
On September 26, 2018, AABANY’s Real Estate and Solo & Small Firm Practice Committees, with KALAGNY, Citrin Cooperman and HSBC, hosted a Fall Harvest Moon Festival Networking Event. Over 60 people attended the event at Citrin Cooperman’s Fifth Avenue headquarters. AABANY leadership in attendance included Margaret Ling, AABANY Development Director and Co-Chair of AABANY’s Real Estate Committee; Cary Chan, AABANY Co-Chair of Real Estate and Solo & Small Firm Practice Committee; Poonam Gupta, AABANY Immigration Committee Co-Chair; Beatrice Leong, AABANY Government Service and Public Interest Committee Co-Chair; and Vincent Chang, Former AABANY President. VIP Guests included Bridgette Ahn, President of the Network of Bar Leaders; George Xu, President of New Century Development; and Wellington Chan, Executive Director of Chinatown Partnership. Many thanks to our sponsors Ben Liu, CPA, Director at Citrin Cooperman, and David Lau, Retail Business Banking Relationship Manager at HSBC Bank. Everyone enjoyed the networking and the buffet, which included moon cakes to celebrate the Mid-Autumn Festival.
Above: Citrin Cooperman Team and Margaret Ling
Left to Right: Bridgette Ahn, George Xu, David Lau,Margaret Ling, Ben Liu
Left to Right: Ben Liu, George Xu, Patrick Yu, Wellington Chan, Margaret Ling, David Fesser
Left to Right: Jane Chen, Jang Lee, Margaret Ling, Cary Chan