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Site Remediation Extension of Time Bill Gives 2 Additional Years for Completion of Remedial Investigation of Contaminated Sites Two Year of Extension of May 7, 2014 Deadline For Completion of Remedial Investigation of Contaminated Sites
- Mon November 4, 2013, 7:14 pm
Compensation For Loss of Ocean Views Due to Protective Dunes Upheld Compensation For Loss of Ocean Views Due to Protective Dunes Upheld, Although Protective Benefit of Dunes Must Be Includ...
- Sun September 29, 2013, 4:12 pm
NJ Supreme Court Rejects COAH’s Third Round Regulations New Jersey Supreme Court Rejects COAH’s Third Round Regulations
On Thursday, the New Jersey Supreme Court, by a 3...
- Thu May 23, 2013, 10:28 am
De Facto Merger of LP Into LLC Does Not Preclude Transfer of Prior Entity’s Rights May 23 2013 -In I/M/O Hazardous Discharge Site Remediation Fund Innocent Party Grant Application Cliflake Associates LLC...
- Tue April 30, 2013, 8:02 pm
NJ State's Energy Master Plan For Solar Incentives for Dumps and Brownfields - Slow Going According to an article on NJ Spotlight - The state’s Energy Master Plan wants to convert garbage dumps and brownf...
- Mon March 25, 2013, 7:14 pm
Hydraulic Fracturing Update New York Home Rule Power To Curb Fracking Upheld
In Lenape v. Town of Avon et al., case number 1060-2012, in New York...
- Sun March 24, 2013, 11:39 am
Creation of Hydraulic Fracturing Performance Standards Shell, Chevron, the Environmental Defense Fund, the Clean Air Task Force, Consol Energy, the EQT Corporation, the Group ...
- Tue March 5, 2013, 7:42 pm
Zoning Protections Lost For Hurricane Sandy Damaged Structures Deemed “Totally” Destroyed The Appellate Division yesterday made it more difficult for property owners trying to rebuild after Hurricane Sandy. The...
- Fri March 1, 2013, 2:17 pm
NJ Court Holds That Age Restricted Development May Be Marketed With No Age Restriction March 1 2013 - The Court, in Sharbell Building Company, LLC v. Planning Board of The Township of Robbinsville, held that...
- Tue February 5, 2013, 8:15 pm
NJ Supreme Court Clarifies Requisite Nexus For Liability Under the Spill Act February 5 2013 - In NJ Department. of Environmental Protection v. Dimant, 212 N.J. 153 (2012), the New Jersey Supreme C...
Some With Contracts Utilizing The Interstate Land Sales Full Disclosure Act To Get Out of Sky View Park
Many people who agreed to purchase apartments in a new development in Queens filed suit Monday seeking the return of their deposits. The suit, filed in federal court in Brooklyn, could hinder the marketing efforts of Sky View Parc, a controversial shopping center and condominium development that is planned to eventually include nearly 1,100 apartments in six towers.
The complaint was filed on behalf of 67 would-be buyers in contracts to buy 41 condos. The complaint said that buyers wanted their money back because they were unable to obtain loans after the "collapse of the mortgage market" and were unable to close. Their lawsuit said that the developers failed to file a disclosure statement. Such a statement is required in large developments under a federal law enacted in 1968 intended to help protect buyers from fraud in new real-estate subdivisions. If a developer fails to provide the proper disclosure, buyers may freely revoke the purchase agreement within two years, the suit said.
Often such complaints are filed with the hope of a return of deposits, but in many cases such suits are filed in an effort to push developers to renegotiate lower prices or better terms. The federal law at the center of the suit, the Interstate Land Sales Full Disclosure Act, has been cited by many buyers seeking to get out of contracts. In New York contradictory decisions by trial judges are now on appeal, and the final impact of the law is unclear. This in turn has led to increasing uncertainty by developers and lenders.