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Is a Baseball Fan’s Love Taxable?

July 13, 2011 | by Einhorn Barbarito

Christian Lopez not only caught Derek Jeter’s 3,000 hit, but immediately handed the baseball over to Jeter – a baseball which some have estimated to be worth $200,000. In recognition of Lopez’s actions, the Yankees then provided him with four Champion Suite tickets for the rest of the season, three bats, three balls and two jerseys, all signed by Jeter – an estimated value of at least $50,000.

New Jersey Realtors have a new reason to be more diligent in their dealings with clients and listing properties for sale. If Realtors are not already doing so, they will now need to conduct a more thorough investigation and questioning of their clients prior to listing a property for sale, and during the showing of homes for potential purchase. A Realtor’s reliance on a “Seller’s Property Disclosure Statement” concerning the facts of a property, such as age of the home, the physical, mechanical and structural condition of the home, and neighborhood facts (such as whether in a flood zone, or particular school system), may no longer protect Realtors from liability under New Jersey’s Consumer Fraud Act (CFA).

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