A lender can take a deed in lieu of foreclosure in New Jersey, and a title company will insure it, if the transaction is structured correctly. A deed in lieu of foreclosure may be a more expedient way to recover collateral in a judicial foreclosure state. However, a deed in lieu has its limits. The deed does not cut off junior liens and a lender will need to determine (i) whether the realty transfer fee must be paid and (ii) whether a bulk sale notice must be filed with the Division of Taxation. The structure has to be right before the deed is signed. This article explains the deed in lieu mechanics. The article addresses commercial loans only. Residential mortgages are governed by the Fair Foreclosure Act and consumer protection rules that do not apply to a commercial workout.
On November 3, 2026, Florida voters approved Amendment 3 with about 62% of the vote, clearing the 60% needed to amend the Florida Constitution. (Results remain unofficial as of November 4, 2026.) The changes take effect January 1, 2027 and will first show up on tax bills mailed in November 2027. Your November 2026 bill is not affected.
In one Florida real estate dispute, investors lost their remaining ownership stake in a Miami Beach hotel condominium project after failing to fund capital calls. In another, a husband transferred an LLC’s Miami property to a lender without his wife’s signature as their marriage unraveled. The transfer was upheld.
As we all confront the health and business challenges resulting from the Coronavirus, please know that we are here to help. Some of you have already started to reach out to our team to prepare for an inevitable consequence of the current pandemic, collection of delinquent assessments from unit owners ...
To our Clients and Friends: As we all confront the health and business challenges resulting from the Coronavirus, please know that we have the ability, background and commitment to help our clients address these challenges. ...
The rule of thumb in New Jersey is that private and hard money lenders should only originate loans where: (1) the borrower is a corporation, limited liability company or limited liability partnership; and (2) the security for the loan is non-owner occupied properties purchased for investment purposes. Where the above two rules of thumb are followed, New Jersey private and hard money lenders should be exempt from civil usury restrictions and subject only the criminal usury restriction of 50% per annum.
After the New Jersey Supreme Court’s recent decision in Green v. Morgan Properties, 215 N.J. 431 (2013), it is advisable that flat fees for attorney services included in residential leases have a direct and actual connection to time spent on a particular matter.
Condominium associations, their boards and management companies often are uncertain how to handle collection of assessments after a unit owner has filed for bankruptcy.
In 1820 Amwell, L.L.C. v. Patti, (App. Div. 2012), the Appellate Division held, in a summary dispossess action, that upon delivery of the Sheriff's Deed the purchaser at Sheriff's sale is vested with a fixed and legal right to collect rent, retroactive to the date of the Sheriff's sale.
(Published in New Jersey Law Journal) New Jersey case law holds that unpaid maintenance assessments and late charges assessed by a homeowners' association survive a foreclosure judgment and a sheriff's sale if recorded bylaws and deed covenants of the homeowners' association state that such obligation follows a subsequent owner.
Hageman v. 28 Glen Park Assoc., LLC, 402 N.J. Super 43 (Ch. Div. 2008): In this case a foreclosed homeowner brought an action against the third party bidder at Sheriff’s sale. David Kessler & Associates filed a motion to dismiss the homeowner’s Complaint prior to trial. The Court granted the motion and dismissed the homeowner’s action, holding that the homeowner, who had initially obtained a stay of the foreclosure sale based upon false statements to the Court, was precluded by the Doctrine of Unclean Hands from maintaining an action against the third party bidder.
In re Connors, 497 F3d 314 (3d Cir. 2007): In Connors, the Court of Appeals followed the “Gavel Rule”, holding that a homeowner cannot cure a mortgage default beyond the day of the foreclosure sale.
