Monthly Archives: March 2013

New foreclosure law effective April 1, 2013

Written on March 25, 2013 at 3:08 am

On December 3, 2012, Governor Christie signed a new foreclosure law that becomes operative April 1, 2013. This Act (P.L. 2012, c.70) permits lenders to foreclose mortgages using an expedited summary action if the encumbered residential property is deemed to be abandoned and vacant. Read More...

NJ Revises LLC Laws effective March 18, 2013

Written on March 12, 2013 at 3:10 am

The laws governing Limited Liability Companies in New Jersey have recently been amended. Enacted as NJSA 42:2C-1 et seq., this law repeals the prior law (NJSA 42:2B-1 et seq.); it becomes effective March 18, 2013 but will apply only to newly created LLCs (i.e. those created on or after the effective date) or those LLCs which elect to be subject to the new act; it will apply to all Limited Liability Companies, regardless of date of formation on April 1, 2014. Read More...