Legal Question in Credit and Debt Law in New York
Limits of Collection
How long after a defult on a commercial lease (store rental) does the holder have to collect on that lease and do they have to serve you personally?
Thank You
Asked on 1/26/01, 5:15 pm
2 Answers from Attorneys
Michael Markowitz
Michael A. Markowitz, PC
Re: Limits of Collection
1. In New York, the statute of limitations for breach of contract is 6 years.
2. Under the NY Civil Practice Law and Rules, service of process may be made by personal delivery, by delivery on an individual of suitable age and discretion, and by "nail and mail".
Mike.
Answered on 3/09/01, 8:51 am
Philip Schnabel
Schnabel Law Office
Re: Limits of Collection
A breach of contract action has a 6 year statute of limitations. If a judgment is issued during that period it is valid and enfoceable for 20 years after filing with the County clerk.
Answered on 3/11/01, 8:51 pm
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