By Noah Botwinick | Published October 6, 2023 | Posted in Real Estate | Comments Off on “AS IS” PROVISION IN REAL ESTATE CONTRACT NOT ENOUGH TO EXCUSE WITHHOLDING MATERIAL DEFECTS, APPELLATE DIVISION FINDS
A recent unreported New Jersey Appellate Division decision highlights a seller’s responsibility to disclose real estate defects and the limits of “as is” clauses. In that case, Battaglia v. Aversa, 2023 N.J. Super. Unpub. LEXIS 1576, the plaintiff purchased a home. The home inspection did not reveal any potential water issues. The contract explicitly stated Read More
Read MoreOn December 22, 2022, the Superior Court of New Jersey, Appellate Division decided the case Saadia Square LLC v. SM Logistics Member LLC et. al. This case arises out of a dispute between the parties’ Operating Agreement and the ability to revoke an offer prior to acceptance. The Operating Agreement requires Defendant to offer Plaintiff the right of first refusal to purchase property that Plaintiff intends to sell Read More
Read MoreThis week, the Superior Court of New Jersey’s Appellate Division affirmed the Chancery Division’s holding that the net proceeds of a partition by sale of property should be equally distributed between the property’s co-owners. In Gabriel v. Wallace, No. A-2449-21 (App. Div. Dec. 28, 2022), two individuals had purchased a piece of property as tenants Read More
Read MoreFor decades new business owners have been precluded from alleging lost profit damages in New Jersey courts. The issue would arise when a lawsuit was filed and a new business owner would assert a claim for lost revenue due to someone else’s wrongdoing. Since a 1936 case entitled Weiss v. Building & Loan Associates our Read More
Read MoreOn June 9, 2022, the New Jersey Supreme Court unanimously decided that attorney review period is not a required contractual provision for a residential real estate sale by absolute auction. In this case, John C. Sullivan v. Max Spann Real Estate & Auction Co. (A-57-20) (085225), Plaintiff John C. Sullivan was trustee to the Sylvester Read More
Read MoreIf you lose a bid for a property despite having submitted the highest financial bid, does this mean that you have a claim for damages against the broker? Maybe not. On April 15, 2021, the Appellate Division in an unpublished decision affirmed a trial court’s dismissal of tortious interference and common law fraud claims against Read More
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