The Daily Dirt: Lawmakers Pass Ground Lease Co-Op Bill. No, Not That One

Real Estate attorney Stuart Saft was quoted in an article published by The Real Deal where he expressed his view on approved legislation in New York affecting co-ops. The bill would allow ground lease co-ops to renew or extend their lease terms at any point, which could provide more certainty for shareholders. Mr. Saft acknowledged that although the bill interferes with existing private contracts, it introduces more flexibility to existing terms without inventing new ones. His perspective highlights the balancing act between contractual integrity and legislative adjustments.

"That, too, is changing a term of an expiring contract, but it's not inventing a term," he said.

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