News & Publications

In This Issue:

• New York Court Dismisses Claims Arising From Unauthorized Electronic Transfers
• District Court Dismisses Pro Se Complaint Based on Colorado River Abstention Doctrine
• Appellate Division Finds Mandatory Arbitration Provision in Employee Handbook Unenforceable

In This Issue:

• 2016 Gift Tax Reminder
• The Uniform Trust Code is Coming to New Jersey…More to Follow
• The Nonprofit Forum: Nonprofit Board Membership – Some Thoughts for Future and Current Board Members
• Sherman Atlas Proudly Announces New Partner

In This Issue:

• District Court Dismisses Borrower’s Consumer Fraud and Fair Debt Collection Practices Act Claims
• Court Finds Conclusory Allegations of Fraud Relating to Loan Modification Insufficient to Defeat Summary Judgment in Foreclosure Action
• State Securities Regulators Propose Mandatory Reporting Requirement of Elder Fraud for Financial Advisers’

In This Issue:

• Delaware Enacts Online Privacy Laws: Requires Certain Website Operators to Post Privacy Policiest
• Delaware Corporate Law Update
• New Jersey Tax Court Finds Non-Profit Hospital Must Pay Property Tax if Property is used for a ‘Profit-Making Purpose’

In This Issue:

• Appellate Division Upholds Dismissal of Claim of Unauthorized Transactions Based on Deposit Agreement
• Appellate Division Dismisses Consumer Fraud Claim in Contested Foreclosure Action
• District Court Declines to Hear Foreclosure Dispute

Registered investment advisors (RIAs) are a growing sector of the wealth management industry. Over 2,000 new RIA firms were created last year alone. There are now more than 30,000 RIAs in the United States, and over 3,000 of them have in excess of $1 billion in assets under management. This tremendous growth reflects the fact that an increasing number of investors are choosing RIA firms instead of traditional Broker-dealers for their investment and wealth management needs.

This article was originally published in the December 2015 issue of New Jersey Lawyer, a publication of the New Jersey State Bar Association, and is reprinted here with permission.

In This Issue:

• 2016 Inflation Adjustments for Tax Items
• New Guidance on Reporting Tax on Gifts and Bequests from Former U.S. Citizens and Residents
• If You Want to Make Gifts to Charities or Others in 2015, Be Sure Those Gifts Are “Completed” This Year for Tax Purposes

In This Issue:

• District Court Dismisses Action For Conversion And Quiet Title Brought In Response To Lender’s Notice Of Intent To Foreclose
• New Jersey Appellate Division Denies Homeowners’ Application To Set Aside Foreclosure Sale Based On Defective Service

In This Issue:

• District Court Finds Foreclosing Bank And Its Attorneys Are Not “Debt Collectors” Under FDCPA
• New Jersey Appellate Division Affirms Denial Of Motion To Vacate Final Judgment Of Foreclosure And Stay Of Sheriff’s Sale
• Appellate Division Finds Bank May Foreclose Even If Allonge To Note Is Not Affixed

In This Issue:

• New Regulations May Limit Taxpayers’ Ability to Discount the Value of Transferred Minority Interests in Family-Owned or Family-Controlled Entities
• Does Your Power of Attorney Need a Fresh Look?
• Executors Stay Tuned: Estate Tax Valuation Reports to the IRS and Estate Beneficiaries Will Soon be Mandated
• Welcome to new members of our team

In This Issue:

• District Court Denies Debt Collector’s Motion To Dismiss Fair Debt Collection Practices Act Class Action
• New Jersey Appellate Division Holds That Valid Lien Exists On Property Despite Forgeries On Mortgage Documents
• Reminder To Financial Institutions Of Guidelines For Garnishment Of Accounts Receiving Federal Benefit Payments

In This Issue:

• Anthony Sylvester Again Named Banking and Finance Litigation “Lawyer Of The Year”
• New Jersey Appellate Division Holds That Pennsylvania Bank Did Not Violate New Jersey Banking Act When Closing Loan Transaction In New Jersey
• New York Comptroller Reports That Number Of Foreclosure Cases Remains High
• New Jersey Federal Court Dismisses Complaint Seeking To Block Foreclosure Action

In This Issue:

• Sherman Atlas Featured In Article In NJBiz Magainze
• New Jersey State Court Holds That Bank Is Not Required To Report Suspected Elder Abuse
• District Court Dismisses Wrongful Foreclosure Action As Premature And Confirms That Mortgagor May Not Challenge Assignment Of Mortgage
• Appellate Division Finds That Inordinate Delay In Arranging Sheriff’s Sale Could Subject Foreclosing Bank To Liability For Unpaid Condominium Fees

In This Issue:

• United States Supreme Court Upholds Validity of Undersecured Second Mortgages in Chapter 7 Bankruptcy Filings
• Change in New Jersey Uniform Commercial Code Financing Statement Requirements
• Appellate Division Affirms That Implied Covenant Of Good Faith And Fair Dealing Cannot Alter Terms Of Commercial Loan Agreement

In This Issue:

• Mortgagors Cannot Collaterally Challenge Validity Of An Assignment Of Mortgage Outside Of Foreclosure Proceeding
• New Jersey Appellate Division Finds Foreclosing Bank Not Liable In Premises Liability Action For Personal Injury
• Plaxico Burress Indicted Under Recently Amended Bad Check Criminal Statute For Failed Electronic Funds Transfer

In This Issue:

• Sherman Atlas Corporate/M&A Practice Group in Elite Company Among New Jersey Law Firms

In This Issue:

• Changing Your State of Residency: What You Need to Know Before You Go
• The IRS Will Know About Your Undisclosed Foreign Accounts Very Soon
• Trustees of Life Insurance Trusts, Beware of Your Duties

In This Issue:

• Payees On Check May Not Assert Presentment Warranties Against Depository Bank That Negotiates Check With Forged Endorsement
• Lending Industry Prepares As Biggest Regulatory Change To Home Mortgage Disclosures In Twenty Years Set To Go Into Effect
• Appellate Division Vacates Foreclosure Judgment Due To Bank’s Failure To Comply With Fair Foreclosure Act

In This Issue:

• District Court Upholds Enforceability of Limited Recourse Guaranty
• Court Dismisses Attempt By Mortgagor To Attack Assignment Of Mortgage Based On Allegations of “Robo-Signing”
• District Court Dismisses Claims Alleging Violation of Fair Credit Reporting Act

In This Issue:

• Banks Not Precluded From Asserting Individual Arbitration Clauses Against Unnamed Class Members
• Trial Period Plan Agreement Pursuant to Home Affordable Mortgage Program Is Not Binding Contract To Modify Loan
• District Court Finds That Bank Has Duty To Prospective Buyers To Prevent Injury In Foreclosed Home

In This Issue:

• 2015 Gift Tax Reminder
• Sherman Atlas adds a new attorney to their Tax and Trusts & Estates Group

In This Issue:

• Borrower Can Maintain Breach Of Contract Claim Against Mortgage Servicer Based on Alleged Oral Representations Made During Loan Workout Negotiations
• United States Supreme Court Holds Right of Rescission Under TILA Properly Exercised by Written Notice to Lender
• New Jersey Supreme Court Prohibits Trial Court From Having Ex Parte Post-Trial Conversations With Jury

In This Issue:

• FINRA'S 2015 Regulatory and Examinations Priorities Letter
• Recent FINRA Rule Changes
• Proposed FINRA Rules
• Enforcement Trends and Activity

In This Issue:

• Foreclosure Debtors Lack Standing To Challenge Violation of Pooling and Servicing Agreements
• New Jersey Appellate Division Dismisses Consumer Fraud Act Claim As Outside the Scope of the Consumer Fraud Act Statute

In This Issue:

• If You Want to Make Gifts to Charities or Others in 2014, Be Sure Those Gifts Are “COMPLETED” This Year for Tax Purposes
• 2015 Inflation Adjustments for Tax Items