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Art Law: The Guide for Collectors, Investors, Dealers, & Artists (Fourth Edition)

Author(s): Ralph E Lerner, Judith A Bresler
Practice Area: Arts, entertainment, and sports, Artwork, Ownership (Artwork)
Date: Nov 2012 i Other versions can be found in the Related Items tab.
ISBN: 9781402418884
PLI Item #: 38149

Widely acknowledged as the cornerstone reference for visual art professionals and their attorneys, Art Law provides unsurpassed legal, business, financial, tax, and estate planning information and guidance for this sector.

Written by two of America’s foremost art law authorities and stocked with timesaving forms, checklists, charts, and procedural guides, this book provides guidance on:

  • Drafting effective agreements clearly defining the rights and obligations of the parties involved, whether they’re artists, dealers, collectors, investors, appraisers, museums, or auction houses
  • Creating tax-advantaged strategies for collectors and artists, including the use of complete and partial inter vivos charitable transfers, noncharitable transfers, deductions of expenses when selling collections, outright bequests of artwork, and income tax deductions for expenses when creating art
  • Minimizing the legal exposure of clients, for example, by helping collectors avoid valuation errors, dealers avoid conflicts of interest, artists avoid copyright infringement, and art experts avoid liabilities when rendering opinions about art

Art Law includes adaptable model agreements for transactions between collectors and dealers, artists and dealers, and dealers and dealers. There are numerous forms for appraisals, property exchanges, tax-free exchanges, loans and promised gifts from artists’ estates, dealings with auction houses, private and public commissions, and museum donations.

Distilling an immense body of law, advice, and practice tools into two volumes, Art Law, Fourth Edition, is an indispensable resource for art dealers, collectors, appraisers, attorneys and others doing business in the visual arts.

RALPH E. LERNER is the co-author of the award-winning treatise, ART LAW: The Guide for Collectors, Investors, Dealers and Artists (First, Second, Third, Fourth, and Fifth Edition), acclaimed as the "industry bible" by Forbes Magazine. He has served as Chairman of the Art Law Committee of the Association of the Bar of the City of New York, Chairman of the Fine Arts Committee of the New York State Bar Association and Chairman of the Visual Arts Division of the American Bar Association Forum on Entertainment and Sports Law.  He has also served on the Board of the New York Volunteer Lawyers for the Arts and as a Fellow of the American College of Trusts and Estates Counsel. Lerner is a nationally-acclaimed speaker and writer on the topic of tax-planning for collectors and artists.  He has extensive experience in dealing with the Internal Revenue Service in the broadest possible manner and numbers among his clients many of the foremost artists, collectors and art dealers in America.

Judith Bresler, was Of Counsel at Withersworldwide and a distinguished lecturer and prominent attorney in the field of art law. She taught Art Law at New York Law School for twenty-five years and also taught as an adjunct faculty member of the University of Pennsylvania Law School. She served as General Counsel to the Appraisers Association of America and as a member of its Advisory Panel. She served on the Board of Trustees of New York Law School and the Philadelphia Volunteer Lawyers for the Arts. She served as Chair of the Art Law Committee and Chair of the Entertainment, Art and Sports Law Section of the New York State Bar Association and published extensively on all aspects of the art market. Drawing on her experiences, she also wrote a screenplay about life in the art world.