A federal court refused to dismiss (reg. required) a malpractice action against an attorney representing an out of state bank in a refinance of a first mortgage on a new construction deposit, but who failed to account for the fact that New Jersey law places a lien on new construction in favor of prospective purchasers who have given the builder a deposit.  These deposits are not escrowed, but used to fund construction.

It is important to make sure that all liens are cleared and that no statut...
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Check out my article at New Jersey Newsroom.
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