The NJ Tax Court recently ruled that transfers of unencumbered real estate for nominal consideration are not subject to the NJ realty transfer fee. This has great potential benefit to those entities and individuals who transfer property to related parties for a variety of reasons such as tax and estate planning, change of partners in the deal, divorce, death, liability issues, change in family status, etc. The case involved is MACK-CALI, LP V TAXATION DIV. DIRECTOR. Please consult your legal and/or accounting advisers for how this might affect your situation.