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Real Estate in the Spring

Real Estate is getting hot as Spring arrives. I am seeing increased activity in Real Estate transactions this month. The interest rates are still low and people are now ready to make their moves. New Jersey has taken a very long time to recover from the 2008 Real Estate recession.  This is largely due to

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1031 Exchange

Many of my Real Estate investor clients utilize a tax benefit known as a 1031 Deferred Exchange. This IRS regulation allows the seller of investment Real Estate ( and other types of investment Real Estate)  to sell the assets, make a profit, but not pay income tax on that profit in that year. A 1031

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Bulk Sale Law

New Jersey applies the Bulk Sale Law to Real Estate sales regarding incoming producing property.  There is a lengthy list of specific types of transactions that are included, herein.  The purpose of this law is to make sure that any taxes that are owed or were previously due from an owner of income producing property

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Co-signing

Lately, I have been receiving many phone calls from clients regarding problems that have developed because they have co-signed mortgages for family/friends.  A co-signer is equally responsible for the repayment of the loan as is the actual home owner. It is extremely important to obtain legal advice before agreeing to co-sign a Note or Mortgage

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Document Errors

Lately, I have seen a number of minor document errors create major headaches for my clients.  A simple inversion of 2 digits on a Deed can create hours of work and hundreds of dollars in additional filing fees to correct.  It is important that you make sure that whoever is preparing your legal documents takes

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Criminal Defense

Years ago, I was fortunate enough to handle a Capital Punishment Murder Case.  My client was found Not Guilty.  It was only the second acquittal in the State of New Jersey since they brought back the Death Penalty. I was very fortunate to have been provided with the necessary time and resources to prepare the

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Tax Appeals

In the State of New Jersey, the filing deadline for Municipal Tax Appeals is April 1.  The date is rapidly approaching. A property owner can only appeal the Assessment for the subject property set by the Municipality. You cannot appeal your taxes and you cannot appeal the town tax rate.  You can, however, contest the

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Residential Leases

It is very important that Landlords’s check their Residential Leases regularly.  Most leases are on a 1 term and automatically become month to month , thereafter.  A Landlord should prepare and submit to each residential Tenant a new Lease each year.  In this fashion, a Landlord can make sure that all the information and rental

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Updating Wills

I read a very good article today in USA Today’s  personal finance section.  It talked about preparation regarding your Will and your Estate.  The recommended steps are very valid and important to make things much easier for yourself and for your heirs.  The article discussed reviewing your last Will and Testament every five years.  The

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Short Sale Ramifications

New Jersey is still leading the nation in short sales of Real Estate.  This means that a seller is able to sell the home for an amount less that what is still owed to the Lender. The Lender must provide their approval to do so obviously, because the Lender looses money from their original investment.

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