So Nick Sirianni is Taking us Back to the Superbowl, But What Has He Done for the Real Estate Industry?

Posted by calgdasilvaon January 30, 2023in Blog PostsLeave a comment

The Philadelphia Eagles head coach Nick Sirianni has much to celebrate. While the coach has been on the front page of The Philadelphia Inquirer several times this week, and now having secured a return to the Superbowl, the press will continue, but did you know that at the same time, he quietly won a significant victory in a Burlington County Court?

Earlier this month, a New Jersey Superior Court judge ruled in favor of Sirianni and his wife Brett in a court decision holding that home sellers have a duty to disclose if an outside party has a right of first refusal in a real estate sale. Incredibly, it is believed to be the first such ruling in New Jersey.

Sirianni was hired by the Eagles in January 2021. He and his wife Brett then went house hunting and found a home in Moorestown. The Sellers and Siriannis entered into a contract for $2.3 million; however, the property had a right of first refusal not initially disclosed by the seller. The clause, attached to the property by its previous owner, stated that any future agreements for the sale of the house must first be offered to his daughter for purchase under the same terms, then to his son, and if they both declined, to the family’s trust. That right of first refusal would remain with the property if the Siriannis purchased it.

The Siriannis asked the Seller to eliminate the clause, but while the seller and their legal team were able to waive the clause for the Sirianni purchase, it was not permanently removed from the property. As a result, the Siriannis refused to close on the deal and the home was sold to a different buyer for $1.95 million. The Seller then sued the Siriannis for the $350,000 difference.

After nearly two years of litigation, Judge Eric G. Fikry sided with the Eagles coach in the January 6^th decision, establishing what appears to be a new legal precedent in the state of New Jersey, with potential nationwide implications.

Specifically, the court held that a seller has a duty to disclose a right of first refusal, or a buyer can terminate the contract.

The Court also ordered the seller to return the Sirianni’s $100,000 deposit and reimburse their costs for the title search, survey and mortgage application fees. A complete legal victory, with clear precedent for the next buyer in similar circumstances.

The timing of the ruling could not be better because, according to the court docket a trial would have started around the time of last week’s game against the New York Giants. Thankfully, Sirianni was able to fully focus on the game.

This decision will have a lasting impact on the New Jersey real estate market, and we can only hope that Sirianni’s winning streak continues with another Eagles Superbowl victory.

Go Birds!

23andMe Files for Bankruptcy—And Millions of Users’ DNA Data May Be Up for Sale

Posted by calgdasilvaon March 25, 2025in Blog PostsLeave a comment

What Happened?

In a chilling turn of events, genetic testing giant 23andMe files for Chapter 11, prompting fears that your most personal data—your DNA—could be up for grabs.

DNA as a Commodity?

Genetic testing company 23andMe has officially filed for Chapter 11 bankruptcy protection, marking a dramatic fall for a company once synonymous with at-home DNA analysis. The bankruptcy filing, made public on Sunday, indicates the company is now courting bidders as it attempts to restructure.

This development raises serious concerns: With more than 14 million users worldwide, 23andMe holds one of the largest private genetic databases ever created. That data—your DNA—may now be considered a corporate asset.

While 23andMe has long promised it won’t sell personally identifiable information without consent, bankruptcy courts can override contracts in certain cases. That means privacy pledges made in good faith may no longer be enforceable.

Privacy Advocates Sound the Alarm

Digital rights organizations and privacy experts are voicing strong concerns about what happens next.

“This isn’t just user data—it’s genetic blueprints,” one privacy attorney noted. “Selling that data, even in anonymized form, could expose people to discrimination, privacy violations, or worse.”

And they’re not wrong. Even so-called “anonymized” DNA data can often be de-anonymized, especially when cross-referenced with other public databases. This opens the door for potential buyers—whether biotech firms, insurance companies, or foreign entities—to gain access to data far more personal than your search history or online behavior.

What Can I Do to Protect My Data?

If you’re a 23andMe user, you’re probably wondering: Can I still do anything to protect my DNA data?

The answer is yes—you can take action to remove your data from their system. But time may be of the essence.

🧬 Step-by-Step: How to Delete Your Data from 23andMe

Log into your account
Visit https://you.23andme.com and sign in.
Go to Account Settings
Click your profile image in the top-right corner, then choose Settings.
Scroll to “Delete Your Data & Account”
At the bottom of the page under Account, click on “Delete Your Data” or “Delete Account”.
Choose What to Delete
You’ll be prompted to:

Delete just your genetic data
Or delete your entire account and genetic data Select “Delete my account and all data.”

Confirm Your Decision
You’ll need to re-enter your password and confirm that this action is permanent and irreversible.
Wait for Confirmation
23andMe says data deletion may take up to 30 days. If your data was previously shared for research, deletion from third parties may not be possible.

A Cautionary Tale in the Age of Big Data

The 23andMe bankruptcy case serves as a warning for all of us: In a world where data is currency, your most personal information—your DNA—is the ultimate high-value asset.

When we share this kind of data with private companies, even for well-meaning reasons like health insights or ancestry tracking, we must also be prepared for the risks—especially when those companies face financial collapse.

For those who once swabbed their cheeks in search of family roots or genetic insight, the message is clear: now is the time to decide how much of yourself you want to leave behind.

What is an Operating Agreement and Why Do I Need One?

Posted by calgdasilvaon February 22, 2025in Blog Posts, Business StructureLeave a comment

Why Your Limited Liability Company (LLC) Needs an Operating Agreement

Starting a business is an exciting venture, and forming a Limited Liability Company (LLC) is one of the most popular ways to structure a small business. While an LLC provides flexibility and liability protection, many business owners overlook one critical document: the operating agreement. Even if your state doesn’t legally require it, and New Jersey does not, having an operating agreement is essential to protect your business and ensure smooth operations. Here’s why your LLC needs one.

1. Defines Ownership and Management Structure

An operating agreement lays out the ownership percentages of each member and the management structure of the company. Whether your LLC is single-member or multi-member, this document clarifies roles and responsibilities, helping to prevent misunderstandings and conflicts down the line. Clearly defined roles and responsibilities means that disagreement and dispute are less likely as your business grows.

2. Protects Your Limited Liability Status

One of the main benefits of forming an LLC is the limited liability protection it offers its owners. However, without an operating agreement, courts may view your business as a sole proprietorship or partnership, exposing your personal assets to legal claims and debts. A well-drafted operating agreement reinforces the separation between your business and personal finances, strengthening your liability protection.

3. Prevents State Default Rules from Applying

Each state has default rules that govern LLCs without operating agreements. These one-size-fits-all regulations may not align with how you want to run your business. By drafting an operating agreement, you can customize provisions related to profit distribution, voting rights, and dispute resolution, ensuring they align with your business goals. This is, in my opinion, the single most important reason to have an operating agreement. Do not allow your business to be governed by default rules and regulations. Govern your business in the way YOU best see fit.

4. Clarifies Financial and Operational Decisions

Without a written agreement, decisions regarding profits, losses, capital contributions, and distributions could lead to disagreements among members. An operating agreement clearly defines these financial aspects, reducing the chances of disputes and providing a clear process for handling financial matters.

5. Facilitates Business Continuity and Succession Planning

What happens if a member decides to leave the business, passes away, or becomes incapacitated? An operating agreement outlines the process for transferring ownership, buying out a departing member, or dissolving the business if necessary. This ensures stability and continuity, preventing legal and financial headaches in the future.

6. Enhances Credibility with Banks and Investors

Financial institutions and potential investors often require an operating agreement before they agree to lend money or invest in your business. A well-structured agreement demonstrates professionalism and foresight, making your LLC more attractive to outside funding sources.

7. Establishes Conflict Resolution Procedures

Disagreements are inevitable in any business. An operating agreement provides a framework for resolving disputes among members, potentially avoiding costly and time-consuming litigation. Whether through mediation, arbitration, or a voting system, having a predefined conflict resolution process is invaluable.

Conclusion

While an operating agreement may not be legally required in every state, it is a crucial document that provides structure, legal protection, and clarity for your LLC. Investing the time and effort to create one now can prevent significant problems in the future, allowing you to focus on growing your business with confidence.

If you haven’t drafted an operating agreement for your LLC, consider consulting Bergmann Law, to ensure your agreement meets your specific needs. Your business’s success and protection depend on it!

Understanding the Real Estate Reassessment Process in New Jersey

Posted by calgdasilvaon February 3, 2025in Blog PostsLeave a comment

The reassessment of real estate is a crucial process under the New Jersey Constitution, ensuring that property values remain equitable and reflect current market conditions. Specifically, Article VIII, Section 1, Paragraph 1 of the New Jersey Constitution requires that all real property be assessed for taxation “under general laws and by uniform rules” based on true value. This provision ensures that property assessments remain fair and equitable, preventing disparities in taxation.

While the Constitution mandates uniform assessment, the specific procedures for reassessment and revaluation are governed by state laws and regulations, including oversight by the New Jersey Division of Taxation and county boards of taxation.

What is the Reassessment Process?

Real estate reassessment in New Jersey is a systematic process conducted by municipal tax assessors to adjust property values to align with the current market conditions. The goal is to ensure that all properties within a jurisdiction are assessed fairly and equitably, thereby distributing the tax burden appropriately among property owners.

The reassessment process involves:

Data Collection: Inspecting properties and reviewing relevant data such as recent sales, property improvements, and neighborhood trends.
Market Analysis: Comparing similar properties to determine accurate and fair market values.
Adjustment of Property Values: Updating assessments to reflect changes in market conditions, ensuring a fair tax distribution.
Notification to Property Owners: Property owners are informed of their new assessments and given an opportunity to review or challenge them.

How Often is Reassessment Done?

There is no set statewide schedule for reassessment in New Jersey. The frequency of reassessment varies by municipality and is determined by local conditions and the need to maintain tax equity. However, reassessments typically occur when:

A municipality determines that assessed values no longer reflect true market conditions.

A significant disparity exists between assessed values and market values.

There is an order from the county board of taxation or the State Director of Taxation due to unequal property tax distributions.

While some municipalities conduct reassessments annually, others may only do so every few years, depending on market fluctuations and local government decisions.

Is Reassessment Mandatory?

Reassessment is not automatically mandatory across all municipalities in New Jersey. However, state law requires municipalities to maintain fair and uniform property assessments. If a municipality fails to do so, it may be compelled to reassess properties by the county board of taxation or the State of New Jersey.

Additionally, if a municipality’s tax ratio (the ratio of assessed values to true market values) deviates significantly from the state-mandated level, reassessment or revaluation may become necessary to correct the imbalance.

Purpose of Reassessment

The primary purpose of reassessment is to ensure fairness and uniformity in property taxation. Key objectives include:

Equitable Tax Distribution: Ensuring that all property owners pay their fair share of taxes based on accurate property values.
Reflecting Market Conditions: Updating property assessments to align with current market values and economic trends.
Preventing Tax Disparities: Reducing tax imbalances that may arise due to outdated assessments.
Compliance with Legal Standards: Meeting constitutional and statutory requirements for property tax administration.

How Was The Haddon Township Tax Reassessment Scheduled?

In April 2022, the Camden County Board of Taxation ordered Haddon Township to conduct a district-wide property revaluation to be completed in 2023 and implemented for the 2024 tax year. This order was approved by John Ficara, Acting Director of the Division of Taxation. Subsequently, in May 2022, the Board granted Haddon Township a one-year extension, adjusting the completion to 2024 and implementation to the 2025 tax year. camdencounty.com The revaluation was completion in 2024, with the new assessments taking effect in the 2025 tax year.

Conclusion

The real estate reassessment process in New Jersey plays a vital role in maintaining fair property taxation. While not mandated on a fixed schedule, municipalities must conduct reassessments as needed to uphold tax equity. Property owners should stay informed about reassessment practices in their area and understand how changes in property value can impact their tax obligations.