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New Jersey- Mansion Tax Law Update 2025

Christine Visci
We like to keep our clients and friends apprised of changes to law and the impact of events.  The changes may not affect everyone, we nevertheless provide the information to all of our clients as a courtesy. Governor Murphy has signed a new law which affects New Jersey real estate closing costs. The Old Law Sellers…

Should I Deed My House to My Children Now?

Christine Visci
We usually respond to this question by asking, “what are you trying to accomplish?” Some people want to avoid Probate to maintain their privacy, avoid delay and cost, or out of concern that someone may contest their Will.  Others want to protect the asset from Medicaid or  nursing home claims, to qualify for Medicaid –…

How Are My Obligations Under a Contract Affected By COVID-19?

Christine Visci
Many contracts include a force majeure clause which relieves a party from liability for failure to act in the event an unforeseeable circumstance arises which would prevent a party from fulfilling a contract obligation. The clause typically lists specific unforeseeable circumstances such as weather, epidemics, strikes, lockdowns, shortage of supplies, acts of god, and governmental…

How Are My Obligations as a Property Owner Affected By COVID-19?

Joseph Visci
Rent Payments The State of New York placed a freeze on evictions of residential and commercial tenants. Eviction proceedings have been suspended and no one can be evicted in New York State until at least August 20, 2020.The State of New Jersey issued Executive Order No. 106, which states that no lessee, tenant, homeowner, or…

When Buying Real Property… Should I Invest in a Survey?

Christine Visci
A survey shows the location of real property on planet earth.  It also shows improvements such as buildings, sheds, driveways, party walls, and fences on the property as well as easements, rights of way, and other information in relation to the boundary lines. A survey can help a Buyer understand what improvements the Buyer can…

What Is A Reverse Mortgage?

Christine Visci
If a person needs cash and they own a home, one option may be to tap into the equity of their home. Under a traditional mortgage a borrower receives the full amount of the loan at closing and repayment of the principal plus interest starts immediately. With a home equity loan a credit line is…

Taxes, Taxes, I’m Selling Real Estate, How Can I Reduce Taxes?

Joseph Visci
Published on November 8th, 2017 It seems every time we turn around we are paying one tax or another.  When real estate is sold there are usually multiple taxes to be paid.  We are often asked, will I have to pay capital gains taxes when I sell my real estate? A second question becomes, is…

5 Tips for First-Time Home Buyers

Christine Visci
Published on November 1st, 2017  1. Learn About the Neighborhood You may be planning on purchasing a starter home and moving later on.  It never ceases to amaze how time flies and things change. The home you are purchasing today may become your forever home.  In purchasing any home, be sure to explore the neighborhood,…
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