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The City Council committees on aging, consumer and worker protection, and housing will hold a t oversight hearing Nov. 19 on deed theft, and on two bills that aim to protect homeowners from predatory real estate speculation. The Council’s action was prompted by an investigative series from THE CITY that featured family who found themselves dispossessed from their own homes after investors forced a sale. The investors had purchased shares of homes for pennies on the dollar from far-flung heirs who had inherited the property. One bill, introduced by Councilmember Crystal Hudson (D-Brooklyn), would require purchasers to disclose the market value of similar properties when making an offer. The other, introduced by Councilmember Kevin Riley (D-The Bronx), would require the city to provide asset protection counseling for homeowners and their heirs.
Mayor Eric Adams’ proposal to change land use rules across the five boroughs to promote housing construction is both sweeping and modest, officials leading the effort told City Council Monday in the first of two public hearings. Department of City Planning Commissioner Dan Gardonick and Department of Housing Preservation and Development Commissioner Adolfo Carrión […]
