Legal Question in Real Estate Law in New Jersey

Re: Real Estate

If there was a written contract of sale, this should have been included. I do not know what, if any written documents were involved (Promissory Note, for example), or their contents. If nothing was in writing, this is not a foreclosure, as you sold shares, not the property itself. This would be a regular suit for return of the property (shares) sold or the payment of the remaining balance due you. If partial payment was made, some shares may have been paid for and the remainder not paid for, so only some shares may be recovered. More information is needed to give a better response. If you have questions or wish to discuss this further, please contact me directly.

Re: Real Estate

Your question is not quite clear, but I think you mean that you sold your corporation's shares to this person, payment to you over 15 years, and the corporation owns real estate, and the buyer is not now paying you. Is all of that right?

In any case, what you can do to enforce your rights will depend a great deal on what the documents say, the agreements that you made in writing with the buyer. You need a lawyer to look over all of the documents, and talk to you to find out what happened, and then give you some advice as to what your choices are.

Please call my office if you would like my assistance. I would be happy to speak to you on the telephone, but it will take more than just a brief telephone call to assist you with these issues.

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