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August 15, 2026 Newsletter

Key Cases, Regulatory Changes & Land Use Developments Affecting Real Estate Professionals Welcome back to the Real Estate Law Newsletter. This issue keeps a tight New Jersey focus: a redlining consent order that won’t close out, a brand-new statewide ban on algorithmic rent pricing, a servicing lawsuit out of Essex County. Whether you’re advising lenders, landlords, or fellow practitioners, our Real Takeaways translate each into practical next steps. Quick Highlights Court Won’t Let Lakeland Bank Out Of $13M Redlining Order Yet August 2026 A New Jersey federal judge has declined to close out a $13 million redlining settlement between Lakeland Bank and the Department of Justice, ruling the bank hasn’t yet shown enough evidence of sustained compliance with the underlying consent order. The original case accused the bank of avoiding mortgage lending in majority-Black and Hispanic neighborhoods across the state.  Real Takeaways: New Jersey Bans Algorithmic Rent-Pricing Software Under FAIR Act July 2026 Gov. Mikie Sherrill signed the Forbidding the Algorithmic Inflation of Rent (FAIR) Act, making New Jersey the fourth state to restrict software that pools nonpublic rent, occupancy, and lease data across landlords. The law takes effect July 1, 2027, and builds on an antitrust suit the state Attorney General filed against RealPage and ten of its largest landlords. Real Takeaways: Newrez Servicing Arm Shellpoint Sued In New Jersey Over RESPA Violations July 2026 An Essex County homeowner has sued Newrez, doing business as Shellpoint Mortgage Servicing, in New Jersey state court, alleging the servicer delayed loss-mitigation decisions, gave inconsistent reinstatement figures, and continued foreclosure activity while her requests sat unresolved, claims she says violate RESPA, Regulation X, and the New Jersey Consumer Fraud Act. Real Takeaways: Social Spotlight Deed transfers can trigger taxes, mortgage issues, and costly mistakes. Protect your investment by handling it correctly from the start.  Check the Post. Your deed affects ownership, inheritance, property value, trust and LLC choices. Small mistakes can create major legal and financial problems later. Check the Post. Blog Essentials Learn how transferring New Jersey property with an open mortgage affects lender rights, borrower liability, due-on-sale clauses, deed requirements, and potential Realty Transfer Fee obligations. Learn more. Discover five essential considerations when buying a New Jersey REO home, including strict as-is terms, buyer certificate responsibilities, limited negotiations, deadlines, and appraisal risks. Learn more. Stay ahead with our free newsletter: The Real Estate Law Newsletter – your source for real estate law news. Essential updates and insights direct to you. Impress clients and colleagues with trending news. Sharpen expertise. Stay legally compliant. Access free legal forms. Don’t miss out – join today!

September 1, 2026 Newsletter

Key Cases, Regulatory Changes & Land Use Developments Affecting Real Estate Professionals This month’s Real Estate Law Newsletter highlights three important developments affecting New Jersey’s real estate industry: a major Supreme Court ruling on eminent domain, a delay of the state’s new flood and land-use regulations, and a significant federal change in lending guidance. Whether you’re a realtor, investor, landlord, mortgage professional, or property owner, our Real Takeaways explain what these developments could mean for your transactions, projects, financing, and compliance. Quick Highlights NJ Supreme Court Expands Clarity on Municipal Eminent Domain August 2026 The New Jersey Supreme Court ruled in Borough of Seaside Park v. Shree Jyoti LLC that municipalities do not have to identify a specific public purpose in an ordinance authorizing condemnation. The 6-1 decision upheld Seaside Park’s use of eminent domain to acquire the Desert Palm Inn for planned parking and electric vehicle charging facilities. However, the Court encouraged municipalities to disclose the intended use early to promote transparency. For New Jersey property owners and real estate professionals, the ruling gives municipalities greater flexibility in eminent domain proceedings. An ordinance is not automatically defective because it omits the planned public use, but owners may still challenge whether the taking serves a legitimate public purpose. Property owners should also respond promptly to condemnation notices and proceedings to preserve their rights.  Real Takeaways: New Jersey Delays Major Flood-Elevation Development Rules August 2026 New Jersey officials have delayed key provisions of the Resilient Environments and Landscapes (REAL) rule, giving qualifying development projects an additional year before facing the new requirements. The rule would expand flood-risk areas and require higher elevations for certain development and redevelopment projects. The extension allows the DEP to review potential amendments following concerns about housing affordability, permitting costs, and economic development. For New Jersey real estate professionals and property owners, the delay provides more time to assess projects that could face increased costs or development restrictions. Developers and investors should determine whether projects qualify under the extended legacy provisions and closely monitor the DEP’s review. Future changes could significantly affect project feasibility, financing, property values, and redevelopment opportunities. Real Takeaways: Federal Regulators Rescind Special Purpose Credit Program Guidance August 2026 Federal housing and financial regulators have rescinded the 2022 guidance on Special Purpose Credit Programs (SPCPs), which encouraged lenders to expand credit access for historically disadvantaged groups. Regulators said lenders should no longer rely on guidance allowing certain programs based on protected characteristics, citing conflicts with ECOA, Regulation B, and the Fair Housing Act. The change is effective immediately. Mortgage lenders and real estate professionals should review existing SPCPs, underwriting policies, marketing, and eligibility requirements for compliance with current federal law. Changes to these programs could affect financing opportunities for homebuyers and investors, making it important to monitor how lenders modify or discontinue specialized credit programs. Real Takeaways: Social Spotlight The Risk of Loss Clause determines who bears responsibility for property damage between contract signing and closing, an important protection for real estate transactions. Check the Post. … Read more

10 Steps to Take After Selling Your Home

Selling your home is a significant milestone that brings a mix of relief, excitement, and a touch of nostalgia. While closing day marks the end of one chapter, it’s important to stay proactive with the next steps. Here’s a comprehensive guide on what to do after you’ve sold your home: Step 1: Confirm Closing Pay-Offs Once the sale is complete, double-check that all funds have been transferred as agreed. Ensure that your mortgage is paid off and that any remaining proceeds are safely deposited into your account. During the closing process, various financial obligations tied to the property are typically settled. Confirming these pay-offs is crucial, and here is a list of common items and who to contact to verify payment: You can review the closing statement provided at settlement and check with these relevant parties to ensure all payments were completed as outlined. Keep records of these confirmations for your files. Step 2: Cancel Homeowner’s Insurance Contact your insurance provider to cancel or adjust your homeowner’s insurance. Make sure the cancellation only occurs after the closing to avoid any lapses in coverage. If you are moving to a new home, it may be necessary to either obtain or update your insurance. Assessing various plans involves reviewing coverage options, costs, and provider reputations. Look for policies that adequately protect against potential risks and provide appropriate liability coverage. Consulting with an insurance professional can help you navigate this process efficiently. For assistance with insurance needs, reach out to our colleague John Schaeffer at Hanson & Ryan, Inc., located at 87 Lackawanna Ave, Totowa, NJ 07512. You can contact him at (973) 774-5987 or via email at jschaeffer@hanson-ryan.com. Step 3: Inform Utility Companies Notify utility providers of your move to prevent being charged for services post-sale. Transfer or close accounts for water, electricity, gas, internet, and other services as necessary. Step 4: Update Your Address Submit a change-of-address request with the postal service to ensure your mail is forwarded to your new location. Update your address for important accounts, such as banks, credit cards, and subscriptions. Here’s a thorough list of types of accounts to update your address for: Step 5: Keep a Copy of Your Closing Documents Retain copies of all documents related to the sale, including the settlement statement and deed transfer paperwork. These can be helpful for future tax filings or potential inquiries. To safely store these documents electronically, use secure, encrypted cloud storage services or digital filing systems that offer two-factor authentication. Ensure you back up these files in multiple locations, such as an external hard drive or another cloud service, to prevent data loss. Label and organize files clearly so they can be easily accessed when needed, and avoid sharing sensitive information over unsecured networks or with unauthorized individuals. Step 6: Prepare for Capital Gains Tax If you’ve made a significant profit from the sale, consult with a tax professional to understand any potential capital gains taxes you might owe and how to prepare for them effectively. … Read more

10-Steps to Take After Selling a Home

Explore the crucial post-home sale steps outlined in this guide, including saving closing documents, updating account addresses, mail redirection, and estate planning tactics. Perfect for home sellers to avoid potential pitfalls and ensure a smooth transition.

Differences With Co-Op Sales – New Jersey

Co-op sales in New Jersey have a significant differences in the sales process. The contract, mortgage approval, client interviews, closing documents, pay-off statements, and title insurance change the sale dynamic