Business & Commercial Law
New Jersey Law Blog
The Multi-Party Joint Deposit Account Act
Posted in Business & Commercial Law
In general, the funds within a joint account belong to the account holders and all account holders have the right to the entirety of the account. Should one of the joint account holders pass away, it is generally accepted law that the account would then pass to the surviving account… Continue reading
Loss of Employment and Alimony
Posted in Business & Commercial Law
New Jersey’s recently enacted alimony statute deals with modification of alimony in the event the payor loses his/her job through no fault of their own. Even though this law allows a payor to seek modification once the payor has been without employment for 90 days, there is not an automatic… Continue reading
Commercial Tenants’ Rights to File and Control Tax Appeals: Size Matters
Posted in Business & Commercial Law
Under New Jersey law, an “aggrieved taxpayer” has the right to file a real estate tax appeal in protest of a tax assessment. Tenants are eligible for this right in certain circumstances. As a general rule, a tenant under a triple net lease, one that requires the tenant to reimburse… Continue reading
Another Sports Retailer Bankruptcy – Golfsmith International, Inc. Files for Chapter 11 Protection in Delaware
Posted in Business & Commercial Law
Golfsmith International, Inc., a specialty golf retailer with 109 Golfsmith stores across the U.S. and 55 Golf Town stores in Canada, filed for Chapter 11 bankruptcy protection in Wilmington, Delaware on Wednesday, September 14, 2016. This case follows other large sports retailer bankruptcy cases, including Sports Authority and Eastern Mountain… Continue reading
Sale of a Marital Home in Divorce – The Many Issues Involved
Posted in Business & Commercial Law
Many times the marital home is one of the biggest assets in a divorce case. While there are only three options in how to deal with the marital home, each option raises questions. Option 1: One of the parties buys out the other party’s interest in said home. Some of… Continue reading
Defending a Will Contest
Posted in Business & Commercial Law
In many of my previous blogs I have discussed the procedure involved in contesting a Last Will and Testament. This blog shall focus on other side of the equation, the defense of a Will contest. Since there are many facets involved in the defense of a Will contest, we shall… Continue reading
Foreclosing Association Liens
Posted in Business & Commercial Law
Many people do not realize that Condominium Associations can foreclose units in the same manner as a mortgagee, pursuant to N.JS.A. 46:8B-21. The Complaint to Foreclose is filed in the County where the unit is located. A copy of the filed Complaint is then served upon the unit owner via… Continue reading
Distribution of Personal Injury Proceeds to Heirs of a Decedent’s Estate
Posted in Business & Commercial Law
In general, if there is a personal injury action concerning the death of the Decedent it is typical that two types of claims are asserted in this action. The first claim is typically a wrongful death claim, and the second claim may be a survivorship claim. In general, the survivorship… Continue reading
How Community Associations Can Collect on Judgments by Rent Levy
Posted in Business & Commercial Law
Once association counsel obtains a personal Judgment against the unit owner for failure to pay maintenance fees, late fees, attorneys’ fees and costs, and other charges, we look for ways to collect on the Judgment. If delinquent unit owner rents his unit, one method of collecting on the Judgment is by levying the rental income. Continue reading
Court May Consider Environmental Contamination of Property in Assessing True Market Value Even When Property Generates Income and is Used by Tax Payer
Posted in Business & Commercial Law
In a recent New Jersey Tax Court decision, ACP Partnership v. Garwood Borough, the court ruled that it will permit consideration of a property’s environmental contamination in deciding its true market value even though the property possesses a “value in use” to the tax payer. The case is significant because… Continue reading
