Creative Reuse: The Opportunities and Challenges of Converting Office Space to Residential
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
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
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
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
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
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
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
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
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