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Articles by John Suwatson
Genova Burns LLC Guides Wellmont Theater Ownership Group Through Transformative Acquisition
Genova Burns LLC successfully represented David Genova and the minority owners in their multi-million-dollar acquisition of a majority ownership interest in the entity controlling Montclair’s iconic Wellmont Theater. The transaction consolidates ownership of the historic live-entertainment venue and positions it for continued growth and success under unified control. Led by Partner John Suwatson, Esq., the Genova Burns team advised the clients throughout every stage of the complex transaction.
Amendments to New Jersey's Mansion Tax and Controlling Interest Transfer Tax | JD Supra
As of July 10, 2025, the Mansion Tax and Controlling Interest Transfer Tax (“CITT”) now requires sellers of certain classes of real property (and controlling interest involving certain classes of real property) transferred for over $1 million to pay anywhere from 1% to 3.5% of consideration. Previously, the Mansion Tax and CITT were the payment responsibility of buyers of real property (and controlling interests) exceeding $1 million.
Amendments to New Jerseys’ Mansion Tax and Controlling Interest Transfer Tax |
As of July 10, 2025, the Mansion Tax and Controlling Interest Transfer Tax (“CITT”) now requires sellers of certain classes of real property (and controlling interest involving certain classes of real property) transferred for over $1 million to pay anywhere from 1% to 3.5% of consideration. Previously, the Mansion Tax and CITT were the payment responsibility of buyers of real property (and controlling interests) exceeding $1 million.
New Jersey’s New Flood Risk Information Law Goes Into Effect: Penalties for Nondisclosures In Sales and Leases (both Commercial and Residential) | JD Supra
Beginning on March 20, 2024, the new NJ law requires sellers of real property and landlords to make disclosures regarding known and potential flood risks in purchase and sale agreements and new leases and renewals. Previously, sellers and landlords had no specific statutory obligation to disclose a property’s flood history to buyers and tenants or advise them if the property was located in a Federal Emergency Management Agency (FEMA) .
New Jersey’s New Flood Risk Information Law Goes Into Effect |
Beginning on March 20, 2024, the new NJ law requires sellers of real property and landlords to make disclosures regarding known and potential flood risks in purchase and sale agreements and new leases and renewals. Previously, sellers and landlords had no specific statutory obligation to disclose a property’s flood history to buyers and tenants or advise them if the property was located in a Federal Emergency Management Agency (FEMA) .
New Jersey Economic Recovery Act of 2020 | JD Supra
On December 21, 2020, the New Jersey Legislature passed the “New Jersey Economic Recovery Act of 2020” (the “Economic Recovery Act” or the "Act"), an omnibus piece of legislation which provides support for various programs and policies related to jobs, property development, food deserts, community partnerships, and small and early-stage businesses, among others. The bill now heads to Governor Murphy, who is expected to sign it into law.
New Law Allows Remote Notarization During COVID-19 Pandemic | JD Supra
Updated: May 25, 2018: JD Supra is a legal publishing service that connects experts and their content with broader audiences of professionals, journalists and associations.
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