In a highly complex matter that included a fraud action, a foreclosure action and a surrogate’s court action, Adam Leitman Bailey, P.C. was retained at the the brink of disaster and was able to successfully stave off a pending sale and protect its client’s interests.
This matter involves a residential property located in Brooklyn, NY. The family property was originally owned by a father of five children.
At the time of the father’s death, a deed recorded on the land records gave one son of the father the rights of survivorship. Accordingly, upon the father’s death, record title suggested that the son was the sole owner of the property.
The other siblings brought suit against the son alleging that the deed granting him rights of survivorship was fraudulent and that the property should, instead be owned by all children in equal share, entitling the other 4 siblings to an 80% interest in the property.
Based upon the siblings representation of having a lawful right to 80% of the property and their lawsuit to void the fraudulent deed, our client went to contract to purchase the siblings 80% interest in the property.
It came to our client’s attention that the siblings’ lawsuit was settled and that the siblings, along with the son were planning to sell the whole property to a new investor.
If the sale went through our clients right to the property would eviscerate and they would be left with no remedy in law.
Adam Leitman Bailey, P.C. was retained with the sale imminent. Within days of being retained, Adam Leitman Bailey, P.C. was able to file an Emergency Order to Show Cause in the foreclosure action, appear for oral arguments and successfully obtain a temporary restraining order enjoining any party from selling or conveying any interest in the property.
Adam Leitman Bailey, P.C. focused its argument on protecting the client’s contractual rights under the contract and the uniqueness of the property. Persuaded by Adam Leitman Bailey, P.C.’s arguments the Court issued the temporary restraining order and gave our clients an opportunity to litigate their claims on the contract. Without Adam Leitman Bailey, P.C.’s swift action the property would have been likely lost for our client.
Danny Ramrattan, Esq. and another attorney of the Real Estate Litigation Group at Adam Leitman Bailey, P.C. obtained the temporary restraining order for the client.