As a New Jersey real estate attorney, I talk to many realtors as well as some fellow real estate attorneys about the market. There has been a lot of discussion on how the market has changed significantly in the past five (5) years. Our discussion was not focused on the reduction in property values or… Read more »
Forgiveness of Debt Being Construed as Income in a NJ Short Sale
One of the goals of a seller in a short-sale, as well as the seller’s attorney, is to have any outstanding debt forgiven as part of the transaction. The rational is that the seller is already losing any money it had in the property as a result of the short-sale, that last thing it wants… Read more »
THE EFFECTS OF LIENS AGAINST THE PROPERTY IN A SHORT-SALE (FINAL PART)
As you may recall from our previous post regarding the effects of liens against the property in a short-sale transaction, this article will focus on the buyer’s perspective regarding the same. Buyers engaged in a short-sale transaction need to be aware – if they are not already – that their transaction is contingent on a… Read more »
THE EFFECTS OF LIENS AGAINST THE PROPERTY IN A SHORT-SALE (PART II)
After discussing how liens can affect the short-sale of a property in our last post, we now want to focus our attention on how each side deals with the potential discovery of the liens encumbering the property as well as well as their discharge. For consistency purposes we will focus on the seller’s perspective in… Read more »
THE EFFECTS OF LIENS AGAINST THE PROPERTY IN A SHORT-SALE (PART I)
In furtherance of our discussions of short-sales on this blog, one of the key elements both sides need to seriously investigate is the liens against the property (e.g., how many there are, the value of each of them, who is the lien-holder, etc). The reason being is if a lien-holder refuses to consent to the… Read more »
Religion and Bankruptcy
As a New Jersey bankruptcy attorney, I understand the decision to file bankruptcy can be one of the most emotional decisions a person has to deal with. Clients will often tell me, “I’ve worked so hard, for so long, and up until now I paid all my bills on time; but now because of the… Read more »
The Significance of a Letter of Intent:
In almost any negotiations for the conveyance of property (e.g., a purchase, sale, or lease), prior to drafting the contract or lease, the parties will come to terms regarding the business points as well as legal issues. More often than not – especially in commercial transactions – the terms will be reduced to writing although… Read more »
Commercial Leasing: Do Not be “Penny Wise, Pound Foolish”
Commercial Leases Are Crucially Important to the Success of Your Business As a New Jersey real estate lawyer, I actually enjoy negotiating and reviewing commercial leases and not because I love legalese, but because I know how crucially important the terms of a lease are to the success of my business clients. A commercial lease… Read more »
NJ Real Estate: Improvements Before Sale Can be a Risk to Buyers and Sellers
Risks to Consider When Buying or Selling Property in NJ Buying and selling property can be a cumbersome process filled with many potential pitfalls. While most buyers and sellers understand some of the risks (e.g., whether the buyers can qualify for a mortgage), many other pitfalls are not dealt with or even thought about until… Read more »
Purchasing a Home in New Jersey? You Need an Attorney
Why it is important to hire an attorney when purchasing a home. As a New Jersey real estate lawyer, I represent both buyers and sellers in real estate transactions. Buying a home is one of the most significant investments a person can make. So much so, that the majority of people purchasing their home use… Read more »
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