The moving party sought leave to issue a certificate of pending litigation (CPL) regarding a commercial property, claiming an interest based on a Sales Representation Agreement.
The responding party brought a cross-motion to stay or dismiss the application, arguing the moving party was an unregistered broker under the Real Estate and Business Brokers Act (REBBA) and operated under an unregistered business name contrary to the Business Names Act (BNA).
The Master dismissed the cross-motion, finding the transaction was part of an ongoing business venture rather than a simple real estate trade, and that the business name non-registration was inadvertent.
The Master granted the CPL, noting the moving party established a triable issue regarding its interest in the property, but ordered the CPL postponed to existing and construction financing to avoid harming the development project.