NJ real estate legislation

NJ is one of 3 states experiencing extreme backlog of foreclosures

Written on July 23, 2013 at 3:04 am

While the housing market is on the mend — with progress even in the hardest-hit states — the backlog of homes in foreclosure and real-estate owned properties is still clogging the pipeline, analysts claim. Read More...

Taking too much for granted?

Written on May 28, 2013 at 3:07 am

Real estate legal and recording systems less stellar than our own: Read More...

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...

Notice to Real Estate Closing Attorney/Settlement Agents: Revised Procedure for Short Sales and Ancient Deeds

Written on May 11, 2012 at 3:13 am

The NJ Treasury Department has issued a notice regarding Short Sales and Ancient Deeds, beginning May 1, 2012.   Read more >>> Read More...

NJ Bill modernizes e-recording process

Written on February 11, 2012 at 3:23 am

County recorders in New Jersey will now be required to accept electronic documents. Govenor Christie recently signed Assembly Bill A 2565 which modernizes the e-recording process, providing the mechanism for significantly changing the method we will follow to record real estate related documents in New Jersey.  It significantly revises NJSA chapter 46 -the recording statute  Read More Read More...

Governor Christie Signs Bulk Sales Legislation into Law

Written on September 16, 2011 at 3:32 am

[source: New Jersey Association of REALTORS® www.njar.com] On September 14, 2011, Governor Chris Christie signed into law A-2748, the bulk sales legislation initiated and strongly supported by NJAR®. This law, which took effect immediately upon being signed, exempts individuals, estates and trusts involved in purchasing one- and two-family residential and certain seasonal rental properties from bulk sales  Read More Read More...