Law360 Pulse
6.15.2022
The Law360 article covers the decision held by the New Jersey Supreme Court in John C. Sullivan v. Max Spann Real Estate & Auction Co, on June 9, 2022. The Supreme Court, held unanimously that "real estate auctions are not the same as typical property transactions and do not require a three-day attorney review," therefore the attorney review clause required under the state Supreme Court's 1983 opinion in N.J. State Bar Ass'n v. N.J. Ass'n of Realtor Boards was rendered "incompatible with the sale of residential real estate by absolute auction," according to the decision authored by Justice Anne M. Patterson.
Wilentz business litigation attorney, Pierre Chwang represented the plaintiff, John C. Sullivan, and the Sullivan GRIT, stated "The Supreme Court's opinion repudiates the appellant's final attempt to throw the kitchen sink at a valid and enforceable contract. My clients, who did nothing more than put a home up for sale, can finally receive closure."
NJ Justices Say Atty Clause Unneeded In Realty Auction Sale (Subscription Required)
