Ken Vercammen's NJ Laws email newsletter April 15, 2003 #123 In this issue: 1. Executor must conduct search for Child Support liens 2. Restrictive Covenants Help businesses and stores 3. Selling your house in New Jersey? _______________ 1 Executor must conduct search for Child Support liens NJ Law N.J.S.A. 2A:17-56.23b actually turns executors and Estate Administrators into collection agents for unpaid child support. Chapter 81 imposes a lien for unpaid child support on the net proceeds of every civil judgment, settlement, civil arbitration award, workers compensation award, or inheritance for unpaid child support. The party receiving money must provide his attorney or agent with highly specific information for use in a judgment search. If the search turns up negative, the search company will to provide a certificate to that effect. If it turns up positive, the executor/ administrator may be required to notify the probation department, and any remaining proceeds may not be disbursed until outstanding judgments are satisfied. 2. Restrictive Covenants Help businesses and stores - Don't Let Your Employees STEAL YOUR Clients Most businesses spend thousands of dollars developing client lists, training staff and promoting and advertising their businesses. After investing substantial time and money in good will, an owner wants to protect the business from employees attempting to leave and take away accounts. Without a restrictive covenant, an employee can open up a competing business on the same street! Restrictive covenants are very useful for businesses to prevent an employee from stealing your clients and your business. New Jersey businesses can retain the law office of Kenneth Vercammen & Associates to prepare Restrictive Covenants to deter employees from taking your business. Call 732-906-2180 for a confidential consultation. 3. Selling your house in New Jersey? If you are selling your home and the buyer has signed the form contract filled in by your realtor, Please fill out our Sellers Information Sheet. After you are finished, and drop it off, fax or mail it to my office together with copies (not original) of your 1. Deed, 2. mortgage, and 3. survey. You will need to contact your mortgage company and have them provide us or you with a written payoff amount. SELLERS INFORMATION SHEET 1. SELLERS NAME: (as it appears on deed) ___________________________________________________________ 2. Real Estate being Sold: Lot No. _________ Block No. __________ Address: __________________________________________ 3. Present Mortgage Company: _____________________________ Address: ___________________________________________ Loan No. ___________________ 800 Telephone No. ____________ (Provide copy of payoff amount) 4. Other Mortgages, including Bridge Loans or Home Equity: Name of Mortgage Company: _____________________________ Address: __________________________________________ Loan No. __________________ 800 Telephone No. ____________ (Obtain written copy of payoff amount from bank, a verbal payoff will not be good enough) 5. Social Security Number: (H) ________________ (W) ___________ 6. Is any Seller age 62 or over? If so, name and date of birth: _________ 7. Name, Address, Telephone number of Condominium Association, if any _______________________________________________________ 8. Type of Fuel: Gas ___________________ Oil _______________ PLEASE ATTACH A COPY OF TITLE INSURANCE, SURVEY, & DEED (not original) 9. Marriage Information: Date of Marriage __________ Maiden or Prior Name(s) __________ Prior Marriages ________________________ (copy of Final Judgment of Divorce needed, not original) 10. Address After Property Sale: _____________________________ 11 Your fax # _____________________________ Legal fees typically are $550-$750 for a simple real estate house sale where the realtor prepares the contract. We anticipate the following will be performed: 1. Review and analyze the contract of sale during attorney review after both buyer and seller sign the contract. 2. Recommend revisions to contract if needed. However, the seller should never sign the contract if it is missing clauses or language needed by the seller. 3. Initial Office consultation if requested with client after contract is signed by both buyer and seller; 4. Request from the Seller back title, including a photocopy of the Deed, survey, title policy and mortgage payoff statement. 5. Preparation of fax letter of representation to buyer's attorney 6. Opening of file 7. Prepare Representation statement to client with request for Seller's Information Sheet 8. Review old Deed, survey 9. Forward Deed, survey, title policy to the purchaser's attorney, thus expediting the search and survey process. 10. Three (3) free calls with client 11. Three (3) telephone calls with buyers attorney and other individuals 12. Three (3) correspondence to and from buyers attorney and clients 13. Review home inspection report 14. Review other documents supplied by client and buyer's attorney; 15. Work with the purchaser's attorney in resolving possession and closing date. 16. Remind the seller to contact their mortgage company and equity loan to obtain a written payoff/ balance due on their mortgage. 17. Review Title Binder and Judgment Searches, if applicable 18. Review RESPA pre-closing, if applicable 19. Preparation of Deed, fax to buyer's attorney 20. Preparation of Affidavit of Title, fax to buyer's attorney 21. Cooperate with the purchaser's attorney in preparing the final closing statement. 22. Review the Respa, which is the Federal Real Estate Settlement Procedure Statement/ Amounts paid and to be received 23. Represent you at the closing. 24. Attend closing, execute Deed, execute Affidavit of Title 25. Assist in Preparation of 1099 tax form 26. Offer sound legal advice to client; 27. Preparation of End of Case Letter and client questionnaire. 28. Make available to client in office upon request free client case folder, Real Estate brochure, Website brochure, and other information brochures on Wills and Power of Attorney; 29. Free Brochures provided on other legal topics such as Car Insurance Rights, Worker's Comp, 30. Free subscription to monthly e-mail newsletter. Provide your email address. 31. 3 free telephone calls during the 2 years after the closing on Probate, Wills and non real estate matters. 32. Invitation to client community events. 33. Free Magnet, Keychain, Pen upon request in the office Costs are items such as filing and recording fees, Certified or Express postage and other out of pocket expenses. In setting this fee I anticipate spending no more than 5 hours on this matter. From 3-5 hours is usually sufficient for a matter of this type. Should you request I perform other legal services not set forth above, I will bill you at a rate of $250 per hour. This fee does not include costs or legal fees if there are judgments against the property, probate issues, defects in title or other work requested to be performed. If this closing does not take place, you will only be responsible for the legal fees and costs incurred. Work with your Realtor Your realtor is a highly trained licensed professional. Their goal is to help you through this closing. They perform substantial work and earn the commissions of between $8,000- $16,000. In order to keep your legal fees down, you should be calling you realtor with routine questions regarding the closing. We have learned by past experience if you, your realtor or you family call your attorney's office every day, these calls are not included in the $550- $750 fee, and there will be a charge for excess calls. The buyer is entitled to obtain a termite inspection and home inspection. Inspections are scheduled by the realtors. If the buyer requests repairs after the home inspection report is done, speak with your realtor. You are responsible for obtaining the smoke detector certificate, plus municipal certificate of occupancy if required by your town. Discuss these with your realtor. Please also arrange the walk through with your realtor. Closing date is approximate You should understand that the proposed closing date in the Contract is an approximate closing date. The actual closing depends upon the buyer's mortgage company issuing a commitment and a mortgage check. We do not set the closing date, that is set by the buyer's attorney. The realtor should be calling the buyer's attorney to determine time of closing and directions to the closing, not our office. ____________ 4. Police Can't Testify With Hearsay re Alibi. State v. Frisby ___ NJ ___ A-91 (December 11, 2002). The admission of hearsay testimony by police investigators was plain error because it related to statements from non-testifying witnesses and improperly gave an opinion about the creditability of the defendant. Source: 11 NJL 2477 ________________________ A Time to Unite... A Time to thank our servicemen God Bless our Military and their Families. United we stand, Divided we fall Thank you for reading our newsletter! God Bless America USA #1 Kenneth Vercammen (Phone) 732-906-2180 (Fax) 732-906-2155 website: www.njlaws.com Editor's Note and Disclaimer: All materials Copyright 2003. 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