Posted in Real Estate
When selling a home a buyer’s title search may uncover an old mortgage of the homeowner – or a prior owner, that was not discharged of record. Frequently the mortgage has been paid off, but unfortunately just not discharged of record in the county clerk’s office. There are ways to discharge such old mortgages depending on the particular situation. Continue reading
Posted in Business & Commercial Law
In a recent ruling by the Appellate Division, in In the Matter of Rogiers, a parent who failed to support his child during her lifetime was entitled to a share in that child’s estate upon the child’s death. According to New Jersey’s Probate Code, the intestate laws (which provide for the disposition of a decedent’s estate in the event there is no Will) allow parents to inherit from their child’s estate. Continue reading
Posted in Business & Commercial Law
On September 10, 2007, Governor Corzine signed into legislation a bill modifying Section 46:8B-15 of the New Jersey Condominium Act. The bill now confirms that condominium associations may charge a capital contribution or membership fee, as long as the association’s master deed or by-laws provide the authority for doing so. Continue reading
Posted in Community Associations
Statute §3407 of the Pennsylvania Condominium Act (the “Act”) provides that a contract for the resale of a common interest community unit by someone other than the developer is unenforceable unless the unit owner furnishes certain information and documents. Continue reading
Posted in Business & Commercial Law
Upon the sale of residential real estate, many Sellers are surprised to learn that the transfer is subject to a New Jersey Realty Transfer Fee. This is a tax imposed on Sellers by the State of New Jersey pursuant to N.J.S.A. 46:15-5 et seq. In certain instances the amount can be significant. Continue reading
Posted in Business & Corporate, Litigation, Shareholder Oppression
In most cases, the single most important issue in a minority shareholder oppression dispute is the valuation of the complaining shareholder’s interest in subject closely held company. One important sub-issue is the applicability of marketability and minority discounts in valuing a less than controlling interest in the subject closely held corporation. Continue reading
Posted in Business & Commercial Law
On Thursday, July 26, 2007, the New Jersey Supreme Court issued its much awaited and highly anticipated decision in Committee for a Better Twin Rivers v. Twin Rivers Homeowners’ Association Continue reading
Posted in Real Estate
One of the items commonly adjusted at real estate closings is municipal real estate taxes. Real estate taxes are billed on a quarterly basis with a quarterly tax payment being due on the first day of the middle month of the quarter. Thus, first quarter taxes, covering January, February and March are due February 1st. Second quarter taxes, covering April, May and June are due May 1st. The due date for third quarter taxes is August 1st and fourth quarter taxes, November 1st. Continue reading
Posted in Divorce & Family Law
In order to determine child support in any divorce case, we are compelled to use the Child Support Guidelines promulgated by the Rules Governing the Courts of the State of New Jersey. Under these Guidelines, we must determine the income of both parents in order to calculate the appropriate amount of child support. Continue reading
Posted in Real Estate
Adjoining property owners frequently encounter overhanging branches from a neighbor’s tree, hedge or other vegetation. Although the base of a tree may be in your neighbor’s yard, when branches, limbs or roots cross over the boundary line, they may constitute a nuisance. Continue reading
