Real Estate New Jersey
On Oct. 30, 2009, the New Jersey Tax Court, in the matter ofMack-Cali Realty, LP, et al. vs. Clerk of Bergen County, et al.,Tax Court of New Jersey Docket No. 000037-2008, granted summaryjudgment in favor of the plaintiffs seeking an exemption frompayment of the Realty Transfer Fee. The plaintiffs were representedby Mark K. Follender, a partner with Scarinci Hollenbeck.
Contrary to the position urged by the Division of Taxation, thecourt held that the state could not impose a blanket exclusion ofcorporate transfers from the statutorily-permitted exemption fortransfers involving less than $100. The result of the case avoidedthe payment of a deed recording fee of over $190,000.
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