Gibbons Law Alert

Gibbons Law Alert

Tagged: Transactional Real Estate & Leasing

Funding Available for Site Remediation in New Jersey

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Posted in Development/Redevelopment

On December 27, 2013

On December 18, 2013, Susanne Peticolas, a Director in the Gibbons Real Property & Environmental Department, moderated a panel, “There May Be Money for Your Client for Site Remediation,” sponsored by the New Jersey Bar Association’s Environmental Law Section. The program focused on the Hazardous Discharge Site Remediation Fund (“HDSRF”). Michael Deely, Supervisor for NJDEP’s HDSRF program, cheered the audience by reporting that the long depleted fund once again has money for site remediation grants and loans.

Legislature Contemplates Extension of Moratorium on Statewide Non-Residential Development Fee

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Posted in Development/Redevelopment

On December 16, 2013

At the end of last week, the New Jersey State Senate (“Senate”) introduced Bill S3116 that proposes to continue the moratorium on the statewide non-residential development fee (the “Fee”) that expired on July 1, 2013. Since July 1, 2013, developers and land use attorneys have been in a state of flux with regard to whether the fee applies to development projects. If passed, this legislation would extend the moratorium to December 31, 2014.

Gibbons Russell Bershad Named Among Top 5 Real Estate Attorneys in New Jersey by the News Funnel

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Posted in Transactional Real Estate and Leasing

On October 21, 2013

Russell B. Bershad, Co-Chair of the Gibbons Real Property & Environmental Department, has been named among the Top 5 real estate attorneys in New Jersey in a recent FunnelCast survey conducted by The News Funnel. Mr. Bershad has previously been recognized as a leading Real Estate lawyer by his peers in such publications as New Jersey Super Lawyers, Chambers USA Guide to America’s Leading Business Lawyers, and Best Lawyers in America.

From Ink to Occupancy – Part Three: Land Use Due Diligence – The Title Myth

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Posted in Transactional Real Estate and Leasing

On August 13, 2013

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.

Russell Bershad to Speak at Upcoming RealShare New Jersey Conference

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Posted in Transactional Real Estate and Leasing

On April 4, 2013

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.

Bulking Up on Information About the NJ Bulk Sales Act

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Posted in Transactional Real Estate and Leasing

On November 28, 2012

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.

Department Co-Chair, Russell Bershad, to Speak at the 11th Annual RealShare New Jersey Conference

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Posted in Transactional Real Estate and Leasing

On September 18, 2012

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.

Residential Property Tax Relief Could Be On Its Way to Philadelphia

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Posted in Tax Abatement / Transactional Real Estate and Leasing

On June 13, 2012

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.

Chapter 91 – Failure to Comply Still Absolute Bar to Tax Appeal in N.J.

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Posted in Transactional Real Estate and Leasing

On May 14, 2012

In United Parcel Service v. Secaucus, UPS failed to properly respond to a request for information as to income and expenses made by the tax assessor pursuant to N.J.S.A. 54:4-34, universally known as a “Chapter 91 request.” Later, when UPS brought an action in the Tax Court to challenge its 2011 assessment, the assessor moved to have the action dismissed due to UPS’s failure to properly respond to the Chapter 91 request. This is what a tax assessor typically does in these circumstances because the statute is clear that the failure of the owner to respond to a Chapter 91 request within 45 days is an absolute bar to the right to bring an appeal of the assessment.

NJ Bulk Sales Notification Requirements

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Posted in Transactional Real Estate and Leasing

On April 2, 2012

Russell B. Bershad, Co-Chair of the Gibbons Real Property & Environmental Department and Peter J. Ulrich, a Director in the Gibbons Corporate Department, recently co-authored an article published in the New Jersey Law Journal entitled, “N.J. Bulk Sales Notification Requirements: Recent Changes and Guidance.” The article describes key issues of concern with applicability of the law which was broadened significantly in 2007 and then scaled back last fall.

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