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Abstract

This Note provides an overview of the New York City rent regulations and FIRREA and discusses their relevance to the Diamond decisions. Part III of this Note describes the reasons the RTC should be allowed to repudiate the tenancies, based on express and conflict preemption analyses. Part IV addresses the length of the balance of the term of a rent regulated lease. Part V concludes that the rent regulated leases may be repudiated by the RTC, that the balance of the term of a rent stabilized lease is theremaining time in the renewal period, and that more statutory guidance is needed to resolve what is the balance of the term of a rent controlled lease.

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