The post below is authored by Nicholas F. Pellitta and Andrew D. Linden.
One obvious reason for filing a real estate tax appeal is to obtain a lower assessment on your real property and thereby save significant tax dollars. Another important reason to lower your assessment and taxes is to help maintain the value of the property by making it more marketable to potential buyers.» Read More
Many real estate investors attend “tax sales” and buy up tax sale certificates on properties whose owners are behind on their real estate taxes. Municipalities, in order to generate cash flow, will offer to the public the opportunity to bid in at a tax certificate sale on those properties whose taxes are seriously delinquent. Many certificates, depending on the bidding, will pay an attractive rate of interest, sometimes at or around 18%.» Read More
An easement is a non-possessory interest in the land of another. A prime example would be an easement allowing owner A to travel over owner B’s property in order for owner A to get to his own property. Much has been written about how easements are created (either expressly or by implication). Of equal importance, however, is how easements are terminated.» Read More
No, not that wall. I am writing about another wall — a retaining wall, to be precise, damage to which precipitated a war of sorts between neighbors.
In 2004, Defendant purchased a home and has lived there ever since. A retaining wall separated defendant’s property from Plaintiff’s property. After 2004, a few mulberry trees began to grow on Defendant’s property near the retaining wall.» Read More
The deadline to appeal a 2016 property tax assessment is April 1. If your property is over-assessed and you would like to file an appeal, please contact Nick Pellitta at firstname.lastname@example.org or Andrew Linden at email@example.com.
Click here to read their alert on how property tax appeals can save you money!» Read More
In my travels over the years, I have come across instances where business people have confused the distinction between a lease and a license. The distinction is important because the rights and obligations of the parties can be significantly different depending upon what the true relationship is determined to be.
Initially, simply labeling an Agreement a “License Agreement” or “Lease” does not make it so.» Read More
Many times I have been approached by a landlord who wants to evict residential tenants from the premises because the lease has “expired.” The first questions I ask are: 1) whether the landlord lives in the premises, and 2) whether the premises contain no more than two rental units (in addition to the landlord’s unit). If the answer to these questions is “No,” then I give the landlord the bad news: he can’t just “kick out” the tenants, even though the lease term has “expired.”
Other than tenants who live in premises where the landlord resides and there are no more than two additional rental units, residential tenants in New Jersey enjoy substantial protection under the Anti-Eviction Act.» Read More
Cyberspace issues have infiltrated practically every facet of our lives and with that comes the need for cybersecurity. Click here for an informative article from Cushman & Wakefield regarding the need for cybersecurity in the commercial real estate sphere.
If you have any questions regarding real estate matters, please contact me at firstname.lastname@example.org.» Read More
The New Jersey Supreme Court recently ruled in favor of a residential landlord, Anna Mae Cashin, who sought to evict Marisela Bello. Bello lived in a single family home located on Cashin’s property, which also contained another building with five residential units.
Cashin had tried several times in the past to no avail to get Bello, who had occupied the property since 1973 at a nominal rent, to leave.» Read More
On many occasions, a commercial landlord and a tenant who find themselves in court together will enter into a consent judgment as a means to resolve their dispute in order to avoid the time and expense of a trial. The courts provide basic consent judgment forms that the parties may revise to fit their specific situation. A consent judgment will usually contain payment terms with which the tenant must either comply or risk eviction.» Read More