James F. McDonough
Of Counsel
732-568-8360 jmcdonough@sh-law.comFirm Insights
Mary J. Blige Faces Tax Lien on New Jersey Mansion
Author: James F. McDonough
Date: February 21, 2013
Key Contacts
Back
Grammy winner and R&B artist Mary J. Blige is facing a host of financial issues that recently culminated in a $900,000 tax lien being placed on her home.
The state of New Jersey imposed the lien on Blige’s 18,250-square-foot mansion in Saddle River after Blige violated tax law by failing to pay back taxes. She bought the home with her husband in 2008 for the price of $12.5 million, and quickly ran into financial issues trying to make the annual $100,000 property tax payments. The French country-style home features an indoor movie theater, fitness center, gourmet kitchen and eight bedrooms, according to AOL Real Estate. The lien is not the only issue the top-selling artist is facing.
She is currently facing a lawsuit from Bank of America, which sued the singer after defaulting on a $500,000 loan. The bank said she took out the loan in 2005 and stopped making payments in 2012. In addition, Blige’s former landscaper is also suing the singer for $4,000 in back tax payments. In May 2012, the New York Post reported that Blige’s charity, which is designed to empower women, failed to file tax returns for the last several years, and is missing hundreds of thousands of dollars in donations. Further, the organization defaulted on a $250,000 loan from TD Bank.
“The problem is that I didn’t have the right people in the right places doing the right things,” Blige said of the charities problems, according to the Post.
In all, the singer and her husband are on the hook for more than $3 million in defaulted mortgages. In an effort to overcome these financial woes, Blige dropped the original $14 million asking price of her New Jersey home – which has been on the market since 2011 – to its valued $12.5 million.
- Practices: Tax and Trusts & Estates, Corporate Tax Planning
No Aspect of the advertisement has been approved by the Supreme Court. Results may vary depending on your particular facts and legal circumstances.
Related Posts
See all
Understanding Chattel Paper: A Key Component in Secured Transactions
Using chattel paper to obtain a security interest in personal property is a powerful tool. It can ensure lenders have a legal claim on collateral ranging from inventory to intellectual property. To reduce risk and protect your legal rights, businesses and lenders should understand the legal framework. This framework governs the creation, sale, and enforcement […]
Author: Dan Brecher
Crypto Compliance: A Comprehensive Guide
For years, digital assets operated in a legal gray area, a frontier where innovation outpaced the reach of regulators and law enforcement. In this early “Wild West” phase of finance, crypto startups thrived under minimal oversight. That era, however, is coming to an end. The importance of crypto compliance has become paramount as cryptocurrency has […]
Author: Bryce S. Robins
Supreme Court and Title VII: Implications for Reverse Discrimination
Earlier this month, the U.S. Supreme Court issued a decision in Ames v. Ohio Department of Youth Services vitiating the so-called “background circumstances” test required by half of federal circuit courts.1 The background circumstances test required majority group plaintiffs pleading discrimination under Title VII of the Civil Rights Act to meet a heightened pleading standard […]
Author: Matthew F. Mimnaugh
SPACs Are Back, What You Need to Know
Special purpose acquisition companies (better known as SPACs) appear to be making a comeback. SPAC offerings for 2025 have already nearly surpassed last year’s totals, with additional transactions in the pipeline. SPACs last experienced a boom between 2020–2021, with approximately 600 U.S. companies raising a record $163 billion in 2021. Notable companies that went public […]
Author: Dan Brecher
Short Form Merger: Streamlining the Process for Businesses
Merging two companies is a complex legal and business transaction. A short form merger, in which an acquiring company merges with a subsidiary corporation, offers a more streamlined process that involves important corporate governance considerations. A short form merger, in which an acquiring company merges with a subsidiary corporation, offers a more streamlined process. However, […]
Author: Dan Brecher
Tariff Response Options for Small Businesses Facing Financial Distress
The Trump Administration’s new tariffs are having an oversized impact on small businesses, which already tend to operate on razor thin margins. Many businesses have been forced to raise prices, find new suppliers, lay off staff, and delay growth plans. For businesses facing even more dire financial circumstances, there are additional tariff response options, including […]
Author: Brian D. Spector
No Aspect of the advertisement has been approved by the Supreme Court. Results may vary depending on your particular facts and legal circumstances.
Sign up to get the latest from our attorneys!
Explore What Matters Most to You.
Consider subscribing to our Firm Insights mailing list by clicking the button below so you can keep up to date with the firm`s latest articles covering various legal topics.
Stay informed and inspired with the latest updates, insights, and events from Scarinci Hollenbeck. Our resource library provides valuable content across a range of categories to keep you connected and ahead of the curve.