As our Condominium and Real Estate practice areas continue to grow, we have created this blog to answer some of the more frequently asked questions. However, as every situation is unique, contact Managing Partner/blog author Jeff Barnes to discuss your specific issue anytime. Thank you for taking the time to visit us.
Posted by Jeff Barnes on February 29, 2012
How can the owner of a house or real estate where a business is operated protect their property interests from a change in the zoning ordinance in the district where the subject property is located? Why does it ever matter? What…more »
Posted by Jeff Barnes on February 08, 2012
Once a contract of sale of a 1-4 family residential property is prepared by a licensed real estate broker and has been signed by both the buyer and seller, either party or both parties may elect to retain an attorney to…more »
Posted by Jeff Barnes on January 18, 2012
Lenders make financial decisions to lend money to borrowers in real estate transactions based on many different criteria, including debt to income ratios. So, if you submit an application for a mortgage and after submitting such an application and prior to…more »
Posted by Jeff Barnes on December 28, 2011
At closing, a title company, assuming that the new buyer used a bank to assist in the financing of the real estate, will issue a lenders’ title insurance policy as well as a buyer’s policy. If a new survey is not…more »
Posted by Jeff Barnes on December 07, 2011
A purchaser of a condominium unit owns his/her condominium unit together with a defined percentage interest in the common elements, which are everything beyond the condominium unit. Each condominium complex is controlled by a master deed, by-laws and rules and regulations.…more »
Posted by Jeff Barnes on November 16, 2011
Title companies search public records relating to the subject property and then generate an opinion concerning the chain of title. Each title is different; however, every title contains information about the property owner and the property owner’s rights and interests in…more »
Posted by Jeff Barnes on October 26, 2011
1. Reserve Fund Requirements – Not having a reserve or an inadequate reserve is a red flag to Banks/Lenders. Today, 10% of revenue collected by the condominium association must be placed into a reserve account. The rationale is that if no…more »
Posted by Jeff Barnes on October 05, 2011
If you may think that a condominium unit inspection is unnecessary when contemplating the purchase of a unit, think again. However, a home inspector who just inspects a unit from the interior drywall inward is not enough. Although an interior inspection…more »
Posted by Jeff Barnes on September 21, 2011
On September 14, 2011, Governor Chris Christie signed into law A-2748, the bulk sales legislation initiated and strongly supported by the New Jersey Association of Realtors (“NJAR”). This law, which took effect immediately upon being signed, exempts individuals, estates and trusts…more »
Posted by Jeff Barnes on August 29, 2011
The New Jersey Supreme Court recently ruled in favor of a condominium association after the plaintiff sued the association as a result of falling on the sidewalk in front of the association’s building. New Jersey Justice Jaynee LaVecchia said “The Skyline…more »