COVID-19 Complications: Can I Close My Real Estate Transaction in New York?
Updated: Apr 12, 2020
Pursuant to a recent Executive Order issued by New York's Governor, Andrew Cuomo, the business activities of non-essential businesses have been severely limited. Though the banking and insurance industries have been deemed essential, serviced provided by lawyers and law firms are generally not considered essential. This is certainly the case in the context of real estate transactions. At this juncture, lawyers may continue to perform all work necessary for any service so long as it is performed remotely. Any in-person work presence shall be limited to work only in support of essential businesses or services; however, even work in support of an essential business or service should be conducted as remotely as possible. Moreover, real estate services shall be conducted remotely for all transactions, including but not limited to title searches, appraisals, permitting, inspections, and the recordation, legal, financial and other services necessary to complete a transfer of real property.