Speaker, New Jersey Institute for Continuing Legal Education, "Getting to Closing: Bulk Sales & New Jersey Realty Transfer Taxes for Real Estate, Corporate and Tax Lawyers," New Brunswick, NJ
September 27, 2017 | 9:00 AM - September 27, 2017 | 12:35 PM EST
If you represent a purchaser of a property that falls under the Bulk Sales law (N.J.S.A. 54:50-38), it is important that you know how to protect your client. Join us as two seasoned real estate lawyers, a corporate lawyer and representatives from the Bulk Sales Unit of the Division of Taxation, join together to guide you through the Bulk Sales law in New Jersey.
You will learn:
- How to calculate the grantor and grantee realty transfer fees in particular circumstances
- What are some of the more commonly encountered statutory RTF exceptions
- When the Controlling Interest Transfer Tax applies
Negotiating and closing real property transfers in New Jersey has to take into account a mix of realty transfer tax issues. Closing agents and deal attorneys need a working understanding of a number of statutory exceptions and what counts as consideration in determining transfer taxes. Additionally, they need to understand the sometimes tricky Controlling Interest Transfer Tax on non-deed transfers of a controlling interest in an entity directly or indirectly holding Class 4A real property. Foot faults will be costly!