NJSBA HQ New Jersey State Bar Association Headquarters, New Brunswick, NJ. Credit: Google

Capitol Report

Attorney review clauses, notices at residential home bidding auctions under consideration by NJ Supreme Court

The New Jersey Supreme Court is slated to hear arguments on whether the three-day attorney review clause and notice regarding the risks associated with not seeking an attorney review are mandated in realtor-prepared residential real estate contracts in bidding auctions. The New Jersey State Bar Association (NJSBA) argued that they are mandated, in Sullivan v. Max Spann Real Estate & Auction Co., Docket No. 085225.

"In light of the importance of the protection of the public interest, the NJSBA urges the Supreme Court to reverse the Appellate Division decision, reaffirm and acknowledge that an Attorney Review Clause and the Opinion 26 notice requirements must be included in every realtor-prepared residential real estate contract in the state, and consider adoption, after careful study, of tailored requirements for residential real estate contracts offered at a residential real estate action," wrote the NJSBA in its amicus curiae brief. The brief was penned by F. Bradford Batcha, of Batcha & Batcha, PC, and Martin Liberman, of The Law Office of Martin Liberman.