William C. Mack’s Answers

William C. Mack

Lake Hopatcong Business Attorney.

Contributor Level 13
  1. The Deed to my house reads as follows: Between ABC, referred to as the Grantor As Joint Tenants with the Right of Survivorship

    Answered 10 months ago.

    1. William C. Mack
    2. Alicia M. Buckingham
    3. Gorham Sharpless Clark
    4. Michael Leo Potter
    4 lawyer answers

    If you own the property as joint tenants, then if you die before your other tenant (your husband, here), your interest goes to him by operation of law. So you cannot transfer your interest in your will to someone else, as long as the property is owned by joint tenants. However, you can re-do the deed to transfer the property to yourselves as tenants in common. In that form of ownership, you could pass your interest to your brother upon your death.

    8 lawyers agreed with this answer

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  2. Do I have to obtain a business license and register with the state before starting my business?

    Answered 10 months ago.

    1. Frank Anthony Natoli
    2. William C. Mack
    3. Michael T Warshaw
    4. Raymond Andrew Grimes
    5. Ronald J Cappuccio
    5 lawyer answers

    I agree with my colleague. In addition, if you plan to have employees at the start of your business, you should register as soon as possible, and consult with an accountant familiar with required state withholdings for taxes, workers' comp, etc. And don't assume that you can start with all contract employees (1099 workers) and be safe. NJ has its own definition of who is an employee and who is not, and it does not turn simply on the fact that you call them an "independent contractor" in an...

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  3. REGISTRATION OF A BUSINESS

    Answered about 1 year ago.

    1. William C. Mack
    2. Matthew Adam Pek
    3. Francine Cullari
    3 lawyer answers

    You did not say whether you want to form a separate business entity (corporation, LLC, partnership) or just conduct business without an entity (as a sole proprietor, for example). There is no such thing as a state business "permit". However, you can form a business entity and this will give you general license to do business in New Jersey for the purposes set forth in your formation documents. You should also register with the Division of Taxation, get a tax ID number, and make sure...

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  4. Real estate sale/contract transactions

    Answered about 1 month ago.

    1. William C. Mack
    2. William J Popovich
    3. Michael T Millar
    4. Fredrick P Niemann
    4 lawyer answers

    Well, both, sort of. A mortgage pre-approval is a preliminary approval from a mortgage lender, indicating that based on limited information as to your financial condition, you are pre-approved for a loan of a certain amount. It is NOT the same as a mortgage commitment, which is given later in the process after a much more thorough review of your financial condition and an appraisal of the home you are buying. Most buyers that I have seen tend to get a mortgage pre-approval before...

    6 lawyers agreed with this answer

  5. In NJ, can I represent myself in a real estate sales transaction as one of two sellers (the other has an attorney who says NO)?

    Answered about 2 months ago.

    1. Randall Philip Brett
    2. Richard E Weltman
    3. William C. Mack
    4. Michael T Warshaw
    5. Jaye L. Samuels
    5 lawyer answers

    I agree with both prior comments. Also do NOT try to pay the fee of the other attorney. That would be a violation of the rules of ethics and he cannot accept it.

    6 lawyers agreed with this answer

  6. What kind of attorney do I need?

    Answered 2 months ago.

    1. William C. Mack
    2. Andra Marie Vaccaro
    3. Frank Anthony Natoli
    4. Oscar Michelen
    5. Michael T Warshaw
    6. ···
    7 lawyer answers

    Let's start with the basics. You need to have an entity formed that will carry on the business, and help isolate your personal wealth from your business obligations. This is pretty straightforward, usually. You will need to negotiate and sign contracts with manufacturers to assure the supply and quality of garments that will be in your line. You need to negotiate and sign contracts with wholesale distributors to distribute the line, and perhaps directly with consumer chains that will...

    6 lawyers agreed with this answer

  7. Short sale

    Answered 2 months ago.

    1. William C. Mack
    2. Thomas J Major
    3. Lorraine Miguel Medeiros
    3 lawyer answers

    In a short sale, the lender looks at your financial situation and determines if you have the ability to repay the loan, or not. In order to start the short sale process, you must have an offer to purchase your home. As part of the analysis for approval, the lender will also look at how much money the proposed sale will generate for the lender (the new payoff). In doing so, it will look at the proposed purchase price, all the costs of sale, which include things like "fines" or other charges...

    6 lawyers agreed with this answer

  8. I tried to refinance my home and was unable to do so because I technically only own 50%. Any help on the steps I need to take?

    Answered over 1 year ago.

    1. William C. Mack
    2. Adam Lefkowitz
    3. James P. Frederick
    4. Charles Adam Shultz
    4 lawyer answers

    The share of the deceased tenant-in-common would pass at his/her death in accordance with the laws of intestacy in the state where he/she resided at death, since there was no will. Do you know if an administrator was appointed for the estate of the deceased person? If not, you would need to start with the Office of the Surrogate in the county where the home is located. Explain your situation and they can give you guidance as to what to do.

    6 lawyers agreed with this answer

  9. My Mother owns a debt she is a senior citizen .

    Answered 9 months ago.

    1. William C. Mack
    2. John B. D'Alessandro
    3. Gary D. Bollinger
    3 lawyer answers

    I agree with my colleague. I would also point out that there are different types of debts (credit card, car loan, home equity line of credit, local, state and federal taxes, etc) and the type of debt will dictate what steps must be taken under state law to create a lien on your mother's property. In addition to a bankruptcy attorney, your mother may wish to speak to a credit counseling agency about her situation. Perhaps a payment plan can be worked out with her creditors such that...

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  10. CERTIFICATION OF FORMATION/NJ BUSINESS REGISTRATION

    Answered about 2 months ago.

    1. Michael T Warshaw
    2. William C. Mack
    3. Frank Anthony Natoli
    4. Christopher Edward Ezold
    4 lawyer answers

    New Jersey does not recognize a sole proprietorship as a separate entity for purposes of legal existence. So there is no formation process that you can use to formalize a sole proprietorship with the state. You may register with the Division of Revenue for tax purposes (and need to do so if your business involves any special taxes, such as cigarette sales and the like). Two other matters should also receive your attention and perhaps have. One is insurance. Your homeowners insurance...

    5 lawyers agreed with this answer

    1 person marked this answer as helpful

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