Adelhock v. Clerk of Bergen County

PIZZUTO, J.T.C.

Plaintiffs contest the determination of the Director of the Division of Taxation concerning their claim that a particular conveyance of real property is exempt from the realty transfer fee imposed by N.J.S.A. 46:15-5 to -11. The conveyance was one in a series of transactions structured to accomplish a tax free exchange of like-kind property under I.R.C. § 1031. The material facts are not in dispute and both plaintiffs and defendants have moved for summary judgment.

Plaintiffs and other parties entered into series of transactions in order to defer payment of taxes under I.R.C. §…