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Arianna Financial Corporation v. Wade

A-0395-03T3 (N.J. Super. App. Div. 2004) (Unpublished)

TAX SALES; FORECLOSURE; REDEMPTION—Having once granted a sixty day extension of the time within which an estate could redeem a property from a tax sale foreclosure, it was within the equity power of a court to refuse any further extension.

A house, originally part of a probate estate, became the subject of a foreclosure action. An investor purchased a tax sale certificate on the property and commenced foreclosure. The homeowner defaulted, and “the court issued an Order Setting Amount Time and Place of Redemption” with a deadline to redeem the tax certificate. The property owner moved to vacate the default, asking for additional time to obtain a loan to payoff the tax lien. The lower court entered an order precluding the investor “from applying for a final judgment for sixty days to give [the homeowner] a chance to obtain financing.” At the end of the sixty days, the homeowner asked for more time, but the lower court denied the request. Ultimately, the investor obtained title to the property and evicted the homeowner. The Appellate Division, while “sympathetic to [the homeowner’s] personal situation, [felt] constrained to affirm the decision of the trial court.” It considered that any decision to give extra time to redeem the property was an issue “within the equitable discretion of the trial judge.”

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