Case Law Summaries

S&R Associates v. Lynn Realty Corporation

MORTGAGES; FORECLOSURE; LIENS—When a mortgage is sold by the FDIC, it is burdened by pre-existing tax liens.

• Opinion Date: March 23, 2001
• Real Property Law

Greenpoint Mortgage Corporation v. Hamm

MORTGAGES; FORECLOSURE—A court has the equitable power to set aside a sheriff’s sale and can use that power where the sale took place because of an error caused by a mortgagee’s attorney, without culpability on the part of the mortgagor.

• Opinion Date: December 14, 2001
• Real Property Law

Associates Home Equity Services, Inc. v. Troup

MORTGAGES; FORECLOSURE—Even though a mortgagee’s claim may be barred by the statute of limitations, it may be entitled to equitable recoupment, and therefore may raise violations of the federal Fair Housing Act and of the New Jersey Law Against Discrimination in pursuing its claims.

• Opinion Date: July 25, 2001
• Real Property Law

Bankers Trust Company of California, N.A. v. Ali

MORTGAGES; FORECLOSURE—Foreclosure judgments are only res judicata as to the amount of the unpaid debt secured by the mortgage; they are not res judicata as to a borrower’s liability for any deficiency.

• Opinion Date: July 11, 2001
• Real Property Law

WMC Mortgage Corp. v. Turner

MORTGAGES; FORECLOSURE—There is no need to vacate a foreclosure sale because of a priority dispute between mortgagees; resolution of such disputes impacts upon the monies received, not on the property.

• Opinion Date: January 12, 2001
• Real Property Law

Sudia v. Poreda

MORTGAGES; CANCELLATION—Where a mortgagee sits on its rights for 27 years, taking no collection action, and where the mortgagor insists the underlying debt has been paid, the Doctrine of Laches can be applied to adjudicate the rights of each party.

• Opinion Date: December 18, 2001
• Real Property Law

Commonwealth Land Title Insurance Company v. Kurnos

MORTGAGES; ATTORNEYS—A title company that waited more than six years after it first became aware that a closing attorney failed to close out a home equity line of credit is barred by the statute of limitations from collecting from the attorney even if the loss took place much later when the borrower defaulted.

• Opinion Date: June 6, 2001
• Real Property Law

Bankers Trust Company of California, N.A. v. Delgado

MORTGAGES; ADJOURNMENTS—A sheriff may not refuse to adjourn a foreclosure sale where both mortgagor and mortgagee consent to an adjournment.

• Opinion Date: October 9, 2001
• Real Property Law

St. Mary Hospital v. Scardigno

MORTGAGES—A reasonable inference of payment may be drawn from the passage of a long time since maturity of a note without any collection efforts or demands.

• Opinion Date: May 31, 2001
• Real Property Law

Rovan, Inc. v. LSP Associates, LLC

LIS PENDENS—A profit interest in the sale of a particular property is not an interest in property sufficient to support the filing of a lis pendens.

• Opinion Date: August 15, 2001
• Real Property Law