Business & Commercial Law
New Jersey Law Blog
National Realty Investment Advisors Lands in Bankruptcy
Posted in Business & Commercial Law
National Realty Investment Advisors and numerous affiliates (“NRIA”) filed voluntary petitions for Chapter 11 bankruptcy protection in the District of New Jersey on June 7th (Case No. 22-14539). NRIA is a New Jersey-based real estate developer. According to filings with the Bankruptcy Court, NRIA owns thirty-one (31) completed properties; three… Continue reading
Tangible vs. Intangible Assets in Estate Administration
Posted in Business & Commercial Law
Under a Last Will and Testament, a decedent disposes of both their tangible personal property as well as their intangible personal property. Questions might arise in the context of administering an Estate, however, as to whether an item is classified as tangible personal property or intangible personal property of a… Continue reading
New Jersey Employers Are Now Required to Provide Written Notice Before Using Tracking Devices in Employee-Operated Vehicles
Posted in Business & Commercial Law
Earlier this year, New Jersey Governor Phil Murphy signed into law Assembly Bill No. 3950, which requires employers in the State to provide written notice to an employee before using a tracking device on a vehicle used by the employee. The new law, which went into effect on April 18,… Continue reading
Red Flags Indicating a Potentially Invalid Will
Posted in Business & Commercial Law, Probate Litigation
When considering whether to contest a decedent’s Last Will and Testament, an individual should consider whether red flags might be present which may point to a successful basis to challenge a disputed Will. The purpose of this article is to examine potential red flags which could highlight a potential issue… Continue reading
The Internal Revenue Service (IRS) Issues Proposed Minimum Distribution Rules
Posted in Business & Commercial Law
The Internal Revenue Service (IRS) recently issued much anticipated proposed regulations that clarify and revise some of the required minimum distribution (RMD) rules for qualified plans (i.e. 401ks, 403bs, etc.) and individual retirement accounts (IRAs). While the proposed regulations are subject to further action in the late Spring of 2022, they… Continue reading
Eminent Domain Issues Affecting New Jersey Condominiums – Can the Government Really Take Part of Our Common Elements?
Posted in Business & Commercial Law
Eminent domain, sometimes referred to as condemnation, occurs when the government exercises its power to take private property for public use. When this awesome power is exercised, the government must pay the property owner “just compensation” for the property taken, as required by the Fifth Amendment of the United States… Continue reading
In the Wake of the Surfside Tragedy Fannie Mae and Freddie Mac Issue “Temporary” Requirements for Condominiums and Cooperatives
Posted in Business & Commercial Law
The collapse of the Champlain Towers South in Surfside, Florida, in June 2021, sent shockwaves throughout the United States and was a wake-up call to condominiums to the dangers of aging infrastructures. In light of this tragic event, secondary mortgage market giants, Fannie Mae and Freddie Mac have issued bulletins… Continue reading
Termination of Construction Contract for Convenience by Project Owner
Posted in Business & Commercial Law
In the past, construction contracts could typically only be terminated if there was a breach of the construction agreement by the owner or contractor. Under such scenarios, litigation often arose concerning whether the termination was proper and whether the contractor might be entitled to lost profits and other damages as… Continue reading
New Bill Clarifies Statute of Limitations For Community Association Transition Litigation Matters
Posted in Business & Commercial Law
On Tuesday, January 18, 2022, Governor Murphy signed into law Senate Bill 396, which automatically tolls (i.e. pauses) the 6-year Statute of Limitations for construction defect claims by condominium and/or homeowner associations and cooperative corporations until the first election when unit owners take majority control of the association board (“Transition”). Although… Continue reading
Employers, the Coronavirus, and the Reinstatement of the OSHA ETS: What Now?
Posted in Business & Commercial Law
On November 5, 2021, the Occupational Safety and Health Administration (OSHA) issued its Emergency Temporary Standard (ETS), requiring private employers having at least 100 employees companywide (at any given time) to adopt written policies and procedures either mandating vaccination against COVID-19 or requiring employees to choose between vaccination or undergo… Continue reading
