Monday, July 8, 2019

‘This Old House’ Turns 40

We are the New Jersey title insurance agent that does it all for you. For your next commercial real estate transaction, house purchase, mortgage refinance, reverse mortgage, or home equity loan, contact us, Vested Land Services LLC. We can help!


It's not title insurance, but we salute "This Old House" as it turns 40

The New York Times features the long running home improvement and renovations show "This Old House" which turned 40 years old this year.

According to Bob Vila, the original host of the show,
“It’s like cooking,” you get the ingredients, put them together and “at the end of the project, you’re a hero.”
Well, to all the do-it-your-selfers out there, keep watching a great TV show.

The full NYTimes.com article can be read here.


For your real estate purchase or mortgage refinance or
if you have questions about what you see here, contact
Stephen M. Flatow, Esq.
Vested Land Services LLC
165 Passaic Avenue, Suite 101
Fairfield, NJ 07004
Tel 973-808-6130 - Fax 973-227-0645
E-mail sflatow@vested.com
@vestedland
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Thursday, June 27, 2019

When it comes to selling your home, know whom you are dealing with

We are the New Jersey title insurance agent that does it all for you. For your next commercial real estate transaction, house purchase, mortgage refinance, reverse mortgage, or home equity loan, contact us, Vested Land Services LLC. We can help!

Real estate crook gets caught!

Hudson County Man Charged In Multimillion-Dollar Mortgage Fraud Scheme

It always amazes us how far people can sink when they try to make a buck. The Department of Justice has released information about one criminal got caught bilking banks out of mortgage money.

According to the press release:

"A Hudson County, New Jersey, man has been indicted for his role in running a large-scale mortgage fraud scheme that involved properties in Jersey City, Union, and elsewhere in New Jersey and caused losses of millions of dollars, U.S. Attorney Craig Carpenito announced today.

"Anthony Garvin, 49, of Jersey City, was charged in a superseding indictment returned June 25, 2019, with one count of bank fraud conspiracy and five counts of bank fraud. Garvin was originally indicted on one count of bank fraud conspiracy and one count of bank fraud on Jan. 11, 2019."
The scheme was to locate distressed sellers and put together short-sales.  Turns out, though that the buyers didn't really qualify for loans, and, guess what, the fraudsters lied!
You can read the full press release here.

For your real estate purchase or mortgage refinance or
if you have questions about what you see here, contact
Stephen M. Flatow, Esq.
Vested Land Services LLC
165 Passaic Avenue, Suite 101
Fairfield, NJ 07004
Tel 973-808-6130 - Fax 973-227-0645
E-mail sflatow@vested.com
@vestedland
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Getting rid of a construction lien in New Jersey

We are the New Jersey title insurance agent that does it all for you. For your next commercial real estate transaction, house purchase, mortgage refinance, reverse mortgage, or home equity loan, contact us, Vested Land Services LLC. We can help!

Removing an Invalid Construction Lien

New Jersey has a law that protects contractors from customers who refuse to pay.  Formerly known as mechanic's liens, New Jersey calls them Construction Liens.  While the purpose of this post is not to explain the construction lien process, what do you do when there's an invalid construction lien.

Here's an article from the New Jersey law firm of Start & Stark that explains the problem and the remedy.

"As the owner of a parcel of property, you might someday be faced with a scenario wherein a construction lien filed by a contractor who performed work for you was either improperly filed, or is simply invalid on its face. The issue becomes what is the proper way to remove and/or discharge this construction lien so that the property is no longer encumbered.
Although the process for a party to file a construction lien against a residential property, as compared to a commercial property, is different, the relevant section of the New Jersey Lien Law which deals with the discharge of an improper or invalid construction lien is the same. N.J.S.A. 2A:44A-15 provides that if a lien claim is without basis, the amount of lien claim is overstated, or the lien claim is not filed in accordance with the relevant sections of the lien law, nor in the time required by the act, the lien claimant shall forfeit the rights to this lien or any subsequent related lien. In a nut shell, this means that if the lien claim is not timely filed, whether residential or commercial construction, or the lien claim is willfully overstated or is without basis, such as the lack of an enforceable contract, then the lien claim is deemed forfeited. Further, the statute punishes a contractor who does not willfully remove a lien claim as long as notice is given. Any owner who is forced to file an action to remove an invalid lien claim is entitled to reasonable counsel fees and costs incurred in said action.
The next question concerns what is the appropriate process to remove an invalid lien claim. Once you have determined that a lien claim is invalid, whether residential or commercial, the first thing that should be done is that an appropriate notice should be provided to the contractor demanding that the lien claim be discharged. It is suggested that this be done via certified and regular mail and any other delivery alternatives which are available. Once this notice is given, typically a short period of time is given for the lien claim to be discharged. A typical period would be approximately two weeks. If the lien claim is not properly discharged, a Complaint may be filed with the Court in the county wherein the lien claim was filed. This process can be done in a summary fashion pursuant to Rule 4:67, and if successful, would entitle the property owner to counsel fees, costs, and potentially sanctions.
Due to the technical nature of the process involved in removing a lien claim, it is suggested that a property owner consult with an attorney. This attorney should know the appropriate form of the original notification, as well as the process of filing a Complaint to remove the lien claim should the contractor not properly discharge the invalid lien claim. The attorneys at Stark & Stark are equipped to handle such a matter if you have been wrongfully subjected to an invalid or improperly filed lien claim."

For your real estate purchase or mortgage refinance or
if you have questions about what you see here, contact
Stephen M. Flatow, Esq.
Vested Land Services LLC
165 Passaic Avenue, Suite 101
Fairfield, NJ 07004
Tel 973-808-6130 - Fax 973-227-0645
E-mail sflatow@vested.com
@vestedland
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Monday, June 17, 2019

Tax Sale purchase? Caveat Emptor! Not as easy as it looks.

We are the New Jersey title insurance agent that does it all for you. For your next commercial real estate transaction, house purchase, mortgage refinance, reverse mortgage, or home equity loan, contact us, Vested Land Services LLC. We can help!

Tax sale purchase is not a walk in the park!

Tax sales are a way for towns and cities to collect tax monies from third parties.  It works like this- property owner fails to pay real estate taxes.  Municipality offers to "sell the property" (actually a lien on the property) at auction.

New Jersey has a statutory framework surrounding tax sales.  The framework is designed to protect owners as well as tax sale purchasers.  While returns can be high, buying a tax sale is not for the faint of heart because it requires stick-to-it-ness to be successful.  For instance, in New Jersey, you must hold your tax sale certificate for two years before you can start a foreclosure action.

So, here's a story from the south where a tax sale purchaser bought a property that wasn't what he thought it was!    Read it here. The villa that turned out to be a sliver of land.

For your real estate purchase or mortgage refinance or
if you have questions about what you see here, contact
Stephen M. Flatow, Esq.
Vested Land Services LLC
165 Passaic Avenue, Suite 101
Fairfield, NJ 07004
Tel 973-808-6130 - Fax 973-227-0645
E-mail sflatow@vested.com
@vestedland
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Sales Tax on New Jersey Short Term Rentals

We are the New Jersey title insurance agent that does it all for you. For your next commercial real estate transaction, house purchase, mortgage refinance, reverse mortgage, or home equity loan, contact us, Vested Land Services LLC. We can help!

Sales Tax on New Jersey Short Term Rentals

New Jersey landlords, especially those down the Jersey Shore, are impacted by a sales tax on short term rentals.  New Jersey uses taxes to boost revenues, and the short term rental tax is just another tool in the taxman's box.

Here are two links you might (or might not) find helpful in understand which categories of owners are affected by the tax.

The first is from the CPA firm of Chris Whalen in Red Bank, New Jersey.  The second is from the State of New Jersey.



For your real estate purchase or mortgage refinance or
if you have questions about what you see here, contact
Stephen M. Flatow, Esq.
Vested Land Services LLC
165 Passaic Avenue, Suite 101
Fairfield, NJ 07004

1500 Allaire Avenue, Suite 101
Ocean, NJ 07712

Tel 973-808-6130 - Fax 973-227-0645
E-mail sflatow@vested.com
@vestedland
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