Understanding the Law of Tenancy by the Entirety When a Marital Home is Owned by a Husband and Wife

HNW Real Estate, Landlord/Tenant, and Zoning

Recently, our associate prepared a memo about executing a creditor’s judgment upon a tenancy by the entirety.  As a result, I read a few of the cases he cited in his memo.  These cases offered a great discussion regarding the laws on tenancy by the entirety that I believe you will find interesting. What is a Tenancy by the Entirety?  (Hint:  It’s Not a Rental) A tenancy by the entirety involves the ownership of a personal residence by a husband and wife.  The nature of a tenancy by the entirety is well established under New Jersey law.  It is an undivided legal ownership interest in the marital home for the joint lives of each spouse while married subject to the …

Fraud Involving Home Value Appraisals

HNW Business Law, Fraudulent Transfer Litigation

By: Fredrick P. Niemann, Esq., a New Jersey Law on Fraud Attorney Home Appraisal Fraud Joseph and Kimberli bought a building lot in a subdivision and then engaged an architect and a contractor to design and build the home of their dreams on it.  The lot and finished home together would cost them about $731,000. They borrowed most of the sales price from a bank, which sought and obtained an appraisal from an appraiser regularly used by the bank.  Conveniently enough, the appraisal came in at about $731,000 when conducted under both a cost approach and a sales comparison approach. After the couple had been in their new house about a year, Kimberli lost her job and the couple went …