As the third installment in the series, “From Ink to Occupancy, A Game Plan for a Successful Real Estate Project,” stemming from the Gibbons Women’s Initiative Seminar Series held in May, this blog addresses the question of whether title review alone is sufficient for purposes of ascertaining what restrictions are in place for a property being acquired. The simple answer is NO. All too often commercial buyers anxious to close on a property take shortcuts and limit their due diligence to title review as opposed to conducting land use due diligence. This blog explains why, particularly in New Jersey, it is critical to conduct land use and zoning due diligence in addition to title review prior to the acquisition of a property, so that you can be fully aware of any potential restrictions impacting the property.
Category: Transactional Real Estate and Leasing
The 2013 edition of the Chambers USA Guide to America’s Leading Lawyers for Business features the largest number of Gibbons practice areas (10) and individual attorneys (26) ever ranked in the top tiers of this publication. The firm has appeared in the New Jersey section of the Chambers guide since its inception and this year has broken into the New York rankings as well.
Gibbons Real Property & Environmental Director Jennifer M. Porter was recently featured in New York Real Estate Journal’s “Women in Real Estate” spotlight section. This spotlight discusses different aspects of Ms. Porter’s career and her most daring career move, joining Gibbons for an opportunity to devote her practice entirely to real estate development in the tri-state area. She also discusses which project was a “game changer” in the advancement of her career.
Thirteen lawyers in the Gibbons Real Property & Environmental Department were listed by New Jersey Super Lawyers and New Jersey Super Lawyers Rising Stars as leaders in their fields for 2013. In addition, Department associate Uzoamaka N. Okoye was featured in a Rising Stars spotlight, in which she discusses her background and her reasons for becoming a lawyer. Overall, 80 lawyers in the firm were featured in these two publications.
Russell B. Bershad, Co-Chair of the Gibbons Real Property & Environmental Department, will serve as a panelist at the upcoming RealShare New Jersey Conference on Wednesday, April 10, 2013, at the Newark Club in Newark, NJ. Mr. Bershad’s panel, “The Needs of the Modern Office User,” will discuss both the design and demand for space, as companies constrict their physical space and telecommuting becomes more prevalent. The panelists will also discuss their approach to doing business in today’s challenging marketplace, including site and office selection in urban versus suburban regions, owning vs. leasing, the impact of the economy and job market on decisions, and the overall burdens and benefits of doing business in New Jersey.
Buyers, sellers and their attorneys are faced with some tough issues when applying the New Jersey bulk sales law to particular real estate transactions, such as short sales, transfers by deeds in lieu of foreclosure, auction sales, sign and close deals and real estate joint ventures. Given the frequency of such real estate transactions in the current market, knowing how best to comply with the New Jersey bulk sales law with respect to these transactions can be critical to closing these deals.
Russell Bershad, Co-Chair of the Gibbons Real Property & Environmental Department, will be a featured panelist at the 11th Annual RealShare New Jersey Conference taking place on Wednesday, September 19, in New Brunswick, NJ. This year’s RealShare New Jersey Conference brings together industry leaders who will provide insight into the latest trends within the commercial real estate market.
The Gibbons Real Property & Environmental Department will once again exhibit at the International Council of Shopping Centers (ICSC) National Conference & Deal Making Idea Exchange, this year located at the Atlantic City Convention Center in Atlantic City, NJ on September 11 & 12. The Conference provides an opportunity for real estate professionals to network and focus on getting deals done.
The Gibbons Real Property & Environmental Department, and four of its attorneys, were among the 10 Gibbons practice areas and 20 individual attorneys ranked in the 2012 edition of the Chambers USA Guide to America’s Leading Lawyers for Business. Chambers annually rates the nation’s leading business lawyers and law firms through comprehensive interviews with top companies, attorneys, and business executives, plus extensive supplementary research.
All in favor of residential property tax relief, raise your hand! And, if you own an eligible home in the City of Philadelphia, apply now. The City is offering its residential homeowners the opportunity to apply for a Homestead Exemption. The Homestead Exemption would reduce the assessed value of an eligible home by $15,000 or more, and consequently lower the real estate taxes owed by the homeowner because the homeowner would pay real estate tax only on the reduced assessment.