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BOROUGH OF WILDWOOD CREST v. SMITH

235 N.J. Super. 453 (1988)

563 A.2d 73

BOROUGH OF WILDWOOD CREST, A MUNICIPAL CORPORATION, PLAINTIFF, v. CECILE O. SMITH; SADYE SILVER, HER HEIRS, DEVISEES AND PERSONAL REPRESENTATIVES AND ANY OF THEIR SUCCESSORS IN RIGHT, TITLE AND INTEREST; MR. SADYE SILVER, HUSBAND OF SADYE SILVER; MONTEREY MOTEL, INC., A CORPORATION OF NEW JERSEY; THE MARINE NATIONAL BANK OF WILDWOOD, NEW JERSEY; UNION TRUST COMPANY OF WILDWOOD, NEW JERSEY; CREST SAVINGS AND LOAN ASSOCIATION; GEORGE M. JAMES AND MARY JAMES, HIS WIFE; MARINE NATIONAL BANK; AND UNITED STATES OF AMERICA, DEFENDANTS. MONTEREY MOTEL, INC., A CORPORATION OF THE STATE OF NEW JERSEY, PLAINTIFF, v. BOROUGH OF WILDWOOD CREST, A MUNICIPAL CORPORATION OF THE STATE OF NEW JERSEY, DEFENDANT.

Superior Court of New Jersey, Law Division Cape May County.

Decided January 26, 1988.

Attorney(s) appearing for the Case

Robert A. Fineberg for plaintiff Borough of Wildwood Crest (Fineberg & Rodgers, attorneys), Wildwood.

Marcus H. Karavan and Robert L. Taylor, for defendants Cecile O. Smith and Monterey Motel, Inc.

CALLINAN, J.S.C.

This case raises the question of whether interest on deficiencies in condemnation cases should be compounded. This matter arises from condemnees' application for the court to set an appropriate rate of interest to be applied to the award entered in this condemnation action. In the instant case, the Borough of Wildwood Crest commenced a condemnation action on February 7, 1983. On or about July 21, 1987 an order for judgment was entered in this matter...

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