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GREEN v. EVESHAM CORP.

179 N.J. Super. 105 (1981)

430 A.2d 944

FRANK W. GREEN, JOHN E. GREEN AND MARGARET M. FOX, TRUSTEE, PLAINTIFFS, v. EVESHAM CORPORATION, MIDLANTIC NATIONAL BANK, ET AL., DEFENDANTS, AND MIDLANTIC NATIONAL BANK, THIRD-PARTY PLAINTIFF-RESPONDENT, v. CHICAGO TITLE INSURANCE COMPANY, THIRD-PARTY DEFENDANT-APPELLANT.

Superior Court of New Jersey, Appellate Division.

Decided May 1, 1981.

Attorney(s) appearing for the Case

Thomas S. Jackson, a member of the Washington, D.C. bar admitted pro hac vice, argued the cause for third-party defendant-appellant Chicago Title Insurance Company (Davis & Reberkenny, attorneys; William D. Hogan, on the brief).

William D. Grand argued the cause for third-party plaintiff-respondent Midlantic National Bank (Greenbaum, Greenbaum, Rowe & Smith, attorneys).

Before Judges SEIDMAN, ANTELL and LANE.

The opinion of the court was delivered by ANTELL, J.A.D.

The question on this appeal is whether a mortgage lender suffered loss or damage recoverable under a mortgagee title insurance policy because of an overlooked prior recorded encumbrance, where it is not shown that the mortgaged property was thereby reduced in value to less than the balance of the underlying debt or that, because of the prior lien, the lender...

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