Articles Posted in Real Estate

The New Jersey Uniform Limited Liability Company Act (the Act) was enacted in 1994 and governs NJ limited liability companies (LLCs). The Revised Uniform Limited Liability Company Act (the Revised Act) is the first major revision to the Act since its inception. Only NJ LLC’s formed after March 18, 2013 will currently be governed by…

Late last year Philadelphia enacted a new lead paint disclosure law that changes the way residential landlords do business in Philadelphia. Under the Lead Paint Disclosure and Certification (LPDC) ordinance effective later this month, a tenant in targeted situations must be given a lead paint certificate when the lease is first signed. This certificate, prepared…

If you recently transferred real property in Philadelphia between July 1, 2012 and January 5, 2013, you may be entitled to a refund in the amount of transfer tax paid. For clear cut real estate transaction where property is being conveyed by a deed at fair market value, the transfer tax is based upon the…

Earlier this year (January 22) I blogged about workplace notices that are required by a business that maintains an office in Pennsylvania. Our New Jersey clients have spoken and I apologize. Set forth below is a list of the posting requirements for New Jersey businesses. These posters are in addition to the federal posting requirements…

On January 23, 2013, Pennsylvania will become one of twelve states to have created a new type of corporation known as the “benefit corporation.” Titled the “Pennsylvania Benefit Corporation Act“, the act allows “social” entrepreneurs to focus not only on the bottom line but to also consider other non economic societal factors (community, environment, employees…

The Pennsylvania Supreme Court in a recent decision stated that residential and commercial property owners who hire contractors are not responsible for personal injuries happening during construction on their property. Previously, plaintiffs had argued for a “retained control” exception where property owners could be held responsible for injuries to workers if the owner was present…

Many corporations, LLC’s, LP’s, and other businesses registered to operate in Pennsylvania must take action this year to avoid losing the ownership of their name. Pennsylvania law requires something called a “Decennial Report” to be filed every 10 years with the Department of State. The report is filed in every year ending with the number…

On December 17, 2010, President Obama signed into law a two year extension of former President Bush’s tax cuts that were set to expire at the end of this year. Remaining in effect till the end of 2012 are all of the Bush-era reductions on income and capital gains taxes. A fix to the estate…

It’s been discussed for years (decades?) and the subject of numerous mayoral campaign debates, but it looks like major changes to Philadelphia business taxes may be in the works. The Philadelphia Inquirer is reporting that a majority of City Council has signed onto a plan to shift the business tax burden away from profits towards…

With the upcoming deadline fast approaching, we wanted to follow-up our April 15, 2010 post titled “New Lead Paint Rules for Contractors” with a timely reminder. As most people are aware, lead based paints were banned from residential construction in the late 1970’s because of the harmful affects to individuals and particularly, the developmental issues…