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Children of former partner sue Vikings co-owner

Maryland football fans may be interested to learn about a lawsuit that was recently filed in New Jersey against a co-owner of the Minnesota Vikings, Zygi Wilf and his father, Joseph Wilf. The lawsuit was filed by the children of Meyer Gold, a former partner of Zygi Wilf in a real estate development project.

According to the complaint, Mr. Gold, who is now deceased, held a one-third interest in the development through a company called Amchu. Mr. Wilf and his father allegedly set up another company called Fairfield Woodcrest in order to divert the money earned by the development, thus depriving Mr. Gold of his interest.

The lawsuit alleges that Mr. Gold received no portion of the $1,600 monthly per unit lease income for the 122-unit apartment complex. Joseph Wilf also allegedly transferred a one-third share of another former partner's interest to himself without informing Mr. Gold in the 1990s. Through their attorney, the Wilfs have stated the lawsuit has no merit, and even if it did, it would be time-barred by the New Jersey statute of limitations. Zygi Wilf was previously ordered to pay $100 million by a New Jersey court in another case involving a broken apartment deal.

People whose interests in land or real estate are harmed by another party must act within a certain time period against the violation of their ownership rights. If they fail to act, their interest may be lost through adverse possession. Those who hold interests in real estate must take appropriate action in a timely manner, and they may want to get the help of a real estate attorney in order to do so.

Source: ABC News, "Vikings co-owner sued in New Jersey over real estate company," May 16, 2015.

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