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New Legislation › Residential Property Owners › Real Estate Transactions

Morgan Lewis

New Jersey ‘Mansion Tax’ Changes Impose Higher Transaction Costs on Commercial and Residential Real Estate Sales

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Recent revisions to New Jersey law increase the so-called “mansion tax” for sales in excess of $2 million and shift the tax payment obligation to the seller. Governor Phil Murphy recently signed legislation making...more

Hudson Cook, LLP

New Residential Property Management Laws: Leasing Compliance Shifts for Summer 2025

Hudson Cook, LLP on

With the summer wave of state legislative adjournments ending, residential property managers are confronting a new landscape of regulatory obligations. Several states and municipalities have enacted or finalized laws and...more

Cole Schotz

New Jersey’s Latest Budget Has Sweeping Changes to the Mansion Tax

Cole Schotz on

The latest budget passed by the New Jersey legislature and signed by term-limited Governor Phil Murphy quietly enacted changes to New Jersey’s Mansion Tax, which affects not only residential properties but commercial...more

McCarter & English, LLP

Mansion and Controlling Interest Transfer Tax Amendments Signed Into Law: Buyers and Sellers Must Move Fast to Avoid Rate Increase

McCarter & English, LLP on

On Tuesday, July 1, Governor Phil Murphy signed into law Senate Bill S4666/Assembly Bill A5804 (collectively, the Bill), which impacts certain transfers of real property. The Bill amends the existing fees imposed on certain...more

Holland & Knight LLP

New York Enacts Affordable Housing Retention Act

Holland & Knight LLP on

New York Gov. Kathy Hochul recently signed into law the Affordable Housing Retention Act (AHRA), which for the next four years enables condo conversions of specific buildings in New York City with a presale requirement for...more

Lasher Holzapfel Sperry & Ebberson PLLC

What You Need to Know About Washington’s New Estate Tax Break for Family Homes

Lasher Holzapfel Sperry & Ebberson PLLC on

Washington state recently enacted some changes that may impact married couples and registered domestic partners. Under the new Spousal Personal Residence Exclusion, when a spouse/partner passes away on or after January 1,...more

Bilzin Sumberg

Florida Condo Owners Will Pay More in 2025. Time is Running Out to Sell.

Bilzin Sumberg on

Older condo units are flooding the market but demand has dried up. The Florida condo market is recalibrating, as changes to the Condo Act tank the market for 30-plus year old condos, creating uncertainty for the...more

Saiber LLC

Ready, Set, Sell: How New Jersey’s New Real Estate Law is Shaking Up the Market

Saiber LLC on

As New Jersey residents prepare for the long winter ahead, many eager homeowners have already begun the planning process to put their homes on the market in anticipation of a traditionally busy spring season....more

Bennett Jones LLP

New Rules for Foreign Home Buyers in Canada Now In Force: Here's What You Need to Know

Bennett Jones LLP on

On December 2, 2022, the Privy Council passed an Order in Council confirming regulations related to the Prohibition on the Purchase of Residential Property by Non-Canadians Act (the Act). The Prohibition on the Purchase of...more

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