Business & Commercial Law
New Jersey Law Blog
Chapter 91 Update: Time to Address the Mailing
Posted in Business & Commercial Law
What happens when the tax assessor mails a Chapter 91 request to the address maintained on the assessor’s public records, but the request is returned “unclaimed”? Is the assessor required to conduct any type of investigation to determine if the address is correct, or can the tax assessor rely solely… Continue reading
Income Approach to Valuation – Why Use Market Rent for Tax Appeals?
Posted in Business & Commercial Law
When valuing industrial, commercial or retail real estate, New Jersey tax assessors are required to value the “unencumbered fee simple interest” of the real estate. This concept often confuses property owners who capitalize the existing leases to show a property is overassessed. In layman terms, what does this all mean? The… Continue reading
Tax Appeals: The Silent Killer
Posted in Business & Commercial Law
It is crucial for owners and other taxpayers of commercial, industrial, retail and other income producing properties to be on the lookout for the “Silent Killer” of tax appeals, commonly known as Chapter 91 requests. New Jersey law permits a municipality to request income and expense statements from owners of… Continue reading
Whistleblower Roulette: The Impact of State v. Saavedra on Whistleblower Litigation in New Jersey
Posted in Business & Commercial Law
On June 23, 2015, the Supreme Court of New Jersey issued its first of two expected landmark decisions this term concerning the rights of and protections afforded to whistleblowers. New Jersey employees enjoy great protection under whistleblower laws that are among the broadest, most robust and comprehensive in the country,… Continue reading
A Joint Account Seemed Like a Good Idea at the Time – Part I
Posted in Business & Commercial Law
In this blog and in an upcoming blog, I am going to cover some of the tax and allocation problems created by joint accounts. The focus of this blog is on some tax related matters involving joint accounts. Many clients believe that joint accounts make great estate planning tools. In… Continue reading
Same-Sex Divorces in New Jersey
Posted in Business & Commercial Law
On September 27, 2013, in a landmark case for the state, Garden State Equality v. Dow, New Jersey Superior Court Judge Mary Jacobson ruled that the state must allow same-sex couples to marry. While Governor Chris Christie immediately stated that his administration would be appealing the ruling, he eventually withdrew… Continue reading
Amendment to the New Jersey Uniform Commercial Code
Posted in Business & Commercial Law
The New Jersey Uniform Commercial Code (the “UCC”) was amended, effective May 11, 2015, imposing new requirements on the filing of a financing statement to perfect a security interest in collateral within the scope of Article 9 of the UCC. The amendment provides that in order to be sufficient, a… Continue reading
Breaking Down the SNDA – Subordination Non-Disturbance and Attornment Agreement
Posted in Business & Commercial Law
A Subordination Non-Disturbance and Attornment Agreement (an “SNDA”) is a document that is typically required by a lender for a landlord. Sometimes the lender will leave off the non-disturbance portion of the agreement, as the lender is only interested in the subordination and attornment. The subordination is the agreement of… Continue reading
What to do if the Executor is Not Properly Administrating the Estate
Posted in Business & Commercial Law
As you may be aware, every Last Will & Testament contains a clause which appoints an Executor or Executrix to administer the Estate of a decedent. In a perfect world, the Executor would timely administer the Estate, would entirely fulfill their duties, and the Estate would be swiftly and economically… Continue reading
Landlord Wins Lawsuit Due To Good Lease and Procedures – Tenant Barred From Relitigating Issues
Posted in Business & Commercial Law
The New Jersey Appellate Division recently issued an unpublished decision that shows that good leases and procedures can help landlords prevent problems as well as make and save money. Rondell L. Thurman, Et Al vs. Lindenwold Center LLC., A-5364-12T4 (App. Div., March 9, 2015). The trial court dismissed claims of… Continue reading
