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CARTERET SAV. & LOAN ASS'N, F.A. v. DAVIS

200 N.J. Super. 167 (1985)

491 A.2d 5

CARTERET SAVINGS & LOAN ASSOCIATION, F.A., A FEDERALLY CHARTERED SAVINGS & LOAN ASSOCIATION, PLAINTIFF, v. BURTON R. DAVIS AND MOZELL Y. DAVIS, HIS WIFE, THE MONEY STORE, FIRST NATIONAL BANK OF NEW JERSEY, RUTGERS MINORITY INVESTMENT COMPANY, AND THE STATE OF NEW JERSEY, DEFENDANTS-RESPONDENTS.

Superior Court of New Jersey, Appellate Division.

Decided March 26, 1985.

Attorney(s) appearing for the Case

Steven Kropf argued the cause for appellant Constance Silakoski (Marvin Feingold, attorney; Steven Kropf, on the brief).

Sanford J. Becker argued the cause for respondent The Money Store (Zucker, Goldberg, Becker & Weiss, attorneys; Jeffrey M. Beck, on the brief).

Before Judges McELROY and DREIER.

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

The successful bidder at a sheriff's sale following the foreclosure of a first mortgage has appealed from an order of the Chancery Division permitting redemption of the property. The court held that the owner of the subject property, who had acquired title at a prior sheriff's sale held after the earlier foreclosure of a second mortgage, possessed an equity of redemption which could be exercised until delivery...

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