HBA successfully defeated a legal challenge asserted under the Religious Corporation Law by a member of a synagogue who sought to invalidate as unreasonable a real estate purchase contract between HBA’s client, as buyer, and a synagogue. Under the Religious Corporation law, the Supreme Court must approve all sales of a religious corporation’s real property. The objector argued that the contract purchase price was too low given that the contract had been signed years ago in a depressed market and further argued that the sale was not in the best interests of the synagogue members. Rejecting the arguments of both the objector and the New York Attorney General, the court ruled that the contract was fair and that HBA’s client was entitled to close.
Harras Bloom & Archer LLP is known for providing sophisticated legal representation to sophisticated clients serving Nassau County, Suffolk County, Queens County, New York City and surrounding areas.