portrait of professor marshall tracht

Marshall Tracht

Professor of Law

Marshall Tracht

Professor of Law

Marshall Tracht is the founder and Director of the LL.M. Programs in Real Estate and in American Business Law.  His current courses include Real Estate Transactions and Finance; Bankruptcy; Workouts, Foreclosures and Bankruptcy; and Introduction to American Law.  He was a tenured faculty member at the Hofstra University School of Law, where he served as Vice Dean from 2001 to 2006, before joining NYLS in 2008.

Professor Tracht is the author of Construction and Development Financing (3d ed. 2001) (with Alvin Arnold) and Land Transfer & Finance: Cases and Materials (6th ed. 2011) (with Quintin Johnstone and Curtis Berger).  He is a member of the editorial board of The Banking Law Journal, a contributing editor to the Real Estate Law Report, and has written extensively in the areas of real estate development and construction financing, workouts, and bankruptcy. His articles have appeared in the Cornell Law Review and Vanderbilt Law Review, among others, and is a recipient of the Grant Gilmore Award for excellence in legal scholarship in the commercial law field.

Professor Tracht has an ongoing interest in innovation in legal education, including on-line instruction, assessment practices and skills training for transactional practice. “Traditionally, law schools have focused on litigation and regulation, not the business knowledge and the negotiation and counseling skills needed by transactional lawyers,” he says. “That’s what we’re changing.” He has participated in numerous accreditation and site visits on behalf of the ABA and the Association of American Law Schools, is a former Chair of the AALS Section on Post-Graduate Legal Education, and he is currently working with a committee of the ABA Section on Legal Education on a report on recent developments in law school curricula.

Before going into academia, Professor Tracht practiced in the real estate and bankruptcy groups at Arnold & Porter LLP in Washington, D.C., and clerked for the Honorable S. Martin Teel, Jr., of the U.S. Bankruptcy Court for the District of Columbia.  He holds his J.D. and M.B.A. degrees from the University of Pennsylvania School of Law and The Wharton School, and his B.A. from Yale University.


Land Transfer and Finance: Cases and Materials, (Aspen Law & Business, 6th ed. 2011) (with Quintin Johnstone and the late Curtis Berger)

Construction and Development Financing, (West Group, 3rd ed. 2001) and semi-annual updates (with Alvin Arnold)


Chapter 46, Suretyship in Theodore Eisenberg, Debtor-Creditor Law (Matthew Bender 2012)

Chapter 45: Guaranty in Theodore Eisenberg, Debtor-Creditor Law (Matthew Bender 2005)

Co-Ownership and Condominium, II Encyclopedia of Law and Economics 62-89 (Edward Elgar, 2000)

Workouts, Foreclosure and Bankruptcy, Chapter 11 in Alvin L. Arnold, Real Estate Investor’s Deskbook (3d ed., 1994)


Contributing Editor, MORTGAGE AND REAL ESTATE EXECUTIVES REPORT (May 2010 – present).

Contributing Editor, REAL ESTATE LAW REPORT (1993 – present).

Can a Debtor’s Exempt Assets Be Surcharged as a Sanction for Misconduct? (Law v. Siegel), 41 PREVIEW OF UNITED STATES SUPREME COURT CASES 196-200 (2014)

Does “Defalcation” by a Fiduciary, Rendering a Debt Nondischargeable, Include Unknowing Breach of the Duty of Loyalty? (Bullock v. Bank Champaign, N.A.), 40 PREVIEW OF UNITED STATES SUPREME COURT CASES 267-269 (2013).

Leasehold Recharacterization in Bankruptcy

RadLAX Gateway Hotel, LLC v. Amalgamated Bank

Sale-Leaseback Recharacterization: A Return to First Principles (work in progress)

Can a Secured Creditor Be Denied the Right to Credit Bid When the Creditor’s Collateral Is Sold Pursuant to a Chapter 11 Plan of Reorganization?, 39 ABA S.Ct. Preview 248 (2012)

Godzilla Lives! Or, Nonrecourse Carveouts Run Amok, 8 J. Bankr. L. 195 (2012)

Freeman v. Quicken Loans, Inc., 39 ABA S.Ct. Preview 202 (2012)

Single Asset Real Estate and Development Projects: The Kara Homes Mistake, 127 Banking L.J. 258 (2010)

Lawyers and Lenders Sanctioned, Mortgage & R.E. Exec. Report, Vol. 41, No. 7 (June 1, 2008)

Patenting a Business or Legal Strategy, Mortgage & R.E. Exec. Report, Vol. 40, No. 8 (June 15, 2007)

OCC Rulings on Real Estate Projects Spark Furor, Mortgage & R. E. Exec. Report, Vol 38, No. 24 (February 15, 2006)

Drafting an Effective Arbitration Clause, in Alvin L. Arnold and Jeanne O’Neill, Real Estate Leasing Practice Manual (Thomson/West 2002)

Arbitration of Truth-in-Lending-Act Claims, 118 Banking L.J. 3 (2001)

Will Exploding Guaranties Bomb?, 117 Banking L.J. 129 (2000)

Insider Guaranties in Bankruptcy: A Framework for Analysis, 54 U. Miami L. Rev. 601 (2000)

Renegotiation and Secured Credit: Explaining the Equity of Redemption, 52 Vand. L. Rev. 599 (1999)

Supreme Court Restricts New Value Exception, Mortgage & R.E. Exec. Report, Vol. 32, No. 8 (June 15, 1999)

Useful Sites on the Internet, 14 R. E. Fin. J. 64 (1998)

Bankruptcy Review Commission Recommendations, Mortgage & R.E. Exec. Report, Vol. 30, No. 23 (Feb. 1, 1998)

Contractual Bankruptcy Waivers: Reconciling Theory, Practice, and Law, 82 Cornell L. Rev. 301 (1997)