On Tuesday afternoon, The Real Estate got a strange email from Westchester-based PR man Rich Roher.
Today’s decision by the NYS Appeals Court, reversing a June 2005 NYS Supreme Court decision, effectively says that a landlord cannot compel a leasee to acquire terrorism insurance if terrorism is not specifically included in the lease’s named perils policy. In other word’s [sic], landlords must specifically state in a lease if they will require leasees (or their assigns) to have terrorism insurance.
Frankly, we didn’t know landlords ever had the chance to force terrorism insurance upon anyone. But, apparently, they can’t anymore.
More to come from Warren Estis of Rosenberg & Estis, the lawyer who represented the Appellant from 9 West 57th…
– Max Abelson