- within Insolvency/Bankruptcy/Re-Structuring, Technology and Law Department Performance topic(s)
We welcomed Nate Baker, CEO and Co-Founder of Qualia, a real estate closing platform, to the podcast. Co-hosts Michael R. O'Donnell and Bethany A. Abele explored with Nate how Qualia is transforming the real estate industry by converting manual workflows into intelligent, data-driven systems. Nate shared insights on how the platform makes property transfers both simpler and more secure, including a discussion of Qualia's latest product, Qualia Clear, which employs artificial intelligence ("AI") that Nate hopes and believes will revolutionize the real estate closing process.
Next, Bethany interviewed Riker Danzig associate Keshav Agiwal about a case decided in August by the Chancery Division of the New Jersey Superior Court, Mercer County, Atlantic County Sheriffs & Joseph O'Donoghue v. State of New Jersey, Docket No. MER-C-94-25 (N.J. Super. Ct. Ch. Div. Aug. 28, 2025). In this case, the court considered whether certain sections of New Jersey's Community Wealth Preservation Act, specifically N.J.S.A. 2A:50-64(d) and (g), violated the Takings Clause of both the New Jersey Constitution and United States Constitution. Ultimately, the court refused to rule on the constitutionality of N.J.S.A. Section 2A:50-64(d) because none of the cases in the consolidated action implicated the right of first refusal. However, the court found that N.J.S.A. Section 2A:50-64(g) does violate the Takings Clause of both the New Jersey and U.S. Constitutions by depriving property owners of surplus equity and preventing junior lienholders from recovering surplus funds.
Key Takeaways from this episode:
- AI integration, enhanced digital payment solutions, and strong cybersecurity measures help companies protect their operations.
- The New Jersey Superior Court held that N.J.S.A. Section 2A:50-64(g), which allows nonprofit community development corporations a right of second refusal in foreclosure actions, was unconstitutional as applied to property owners and junior lienholders in the case at hand, finding that Section (g) violates the Takings Clause of both the U.S. and New Jersey Constitutions in light of the impact on a property owner's right to surplus equity and that it prevents junior lienholders from recovering surplus funds.
Note: Riker Danzig is not endorsing the services of Qualia.
Riker Danzig's Title Insurance Group also produces a "Banking, Title Insurance and Real Estate Litigation Blog," available here.
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