NJ Court Quashes Homeowners' Purchase Price Suit

Law360, New York (August 3, 2012, 5:11 PM EDT) -- A New Jersey appeals court on Friday booted a putative class action accusing developer K. Hovnanian at Jackson LLC of improperly inflating the purchase price of homes and burdening homeowners with excessive property taxes by including certain credits in deed considerations.

Plaintiffs Joel and Carol Moskow argued that K. Hovnanian violated the New Jersey Recording Act by including free upgrades in deed consideration amounts, resulting in higher property tax assessments, but the Appellate Division of New Jersey Superior Court agreed with a lower court that the...
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