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Barbara Strapp Nelson is a Shareholder and member of Stark & Stark’s Real Estate Group, where she concentrates her practice in residential real estate transactions. She has over 30 years of experience in residential as well as commercial real estate transactions and related zoning and planning issues. She has represented individuals and developers in their real estate transactions. In addition to her experience in real estate, Ms. Nelson has extensive experience in matrimonial law and wills, estates and estate administration. She also has extensive litigation experience at the trial and appellate levels in state and federal courts.

New legislation has recently been enacted which exempts sales of certain residential dwellings and seasonal rentals from Bulk Sales notification requirements. According to A-2748, which was signed into law on September 14, 2011, sales of a “simple dwelling house” when the seller is an “individual”, “estate” or “trust” (as those terms are used for purposes of the New Jersey Gross Income Tax Act N.J.S.54A:1-1 et seq.) are exempt from the Bulk Sales notification requirements (N.J.S 54:50-38). A “simple dwelling house” under the new law is a dwelling unit including but not limited to a one-family or two-family building or structure, or a unit in a condominium or a cooperative.
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With the increase in foreclosures against residential properties and homeowners facing financial difficulties, the number of severely neglected and abandoned homes is on the rise. While such situations are unfortunate for the owner of the deteriorating property, the condition of the property can also have a significant impact on neighboring property owners.
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The names set forth on a deed may not always reflect the interests of all parties in the real property. One such interest is a possessory one of a spouse to joint possession in property occupied as a couple’s principal matrimonial residence. This type of interest is a statutory creation. N.J.S.A. 3B:28-3 provides that during life every married individual shall be entitled to joint possession with his spouse of any real property which they occupy jointly as their principal matrimonial residence and to which neither dower nor curtesy applies.
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As residents of Princeton Borough and Princeton Township are well aware, their municipalities have undertaken a revaluation of the real estate within their boundaries for tax assessment purposes. The last revaluation performed in Princeton Borough and Township was in 1996. Recently, each municipality notified property owners by first class mail of their preliminary assessments.
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Our recording system, having its roots in England, is basically a system for determining priority of legal claims against real estate. Thus, when one acquires title to real estate, or mortgages property, those instruments affecting title are usually recorded in the county clerk’s office.
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The popular federal tax credit of up to $8,000 provided to first-time home buyers who purchase a home in 2009 due to expire November 30th has been extended until April 30, 2010. In addition, a new tax credit up to $6,500 will be available to certain “step-up” (or downsizing) homebuyers who are current homeowners who have resided in their homes for at least five years.
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Goblins and ghosts. Eerie graveyard scenes. With Halloween coming, cemeteries always take on some added interest. New Jersey cemeteries are governed by the “New Jersey Cemetery Act, 2003.” N.J.S.A. 45:27-1 et seq. Under the Act, a cemetery is defined as “any land or place used or dedicated for use for burial of human remains or disposition of cremated human remains….” N.J.S.A. 45:27-2.
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