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VIRGINIA BEACH FEDERAL v. BANK OF NEW YORK/NAT. COMMUNITY DIV.

299 N.J. Super. 181 (1997)

VIRGINIA BEACH FEDERAL, PLAINTIFF-APPELLANT, v. THE BANK OF NEW YORK/NATIONAL COMMUNITY DIVISION, DEFENDANT-RESPONDENT, AND THOMAS J. JONES AND DIANE B. JONES, HIS WIFE; ANDREW MOYLE, T/A COTT BEVERAGE OF SOUTH JERSEY; ANITA CAMPANA; RESOLUTION TRUST CORPORATION AS RECEIVER FOR COLUMBIA SAVINGS BANK; KEVIN HENDERSON; CARMEN PEREZ; MERCURY ELECTRIC PRODUCTS MANUFACTURING CORPORATIONS; STATE OF NEW JERSEY; CHEMICAL BANK NEW JERSEY; CAMDEN COUNTY BOARD OF SOCIAL SERVICES; MARTLAND HOSPITAL N/K/A UMDNJ; DR. JOHN C. PELLOSIE; THE HERTZ CORPORATION; AGWAY PETROLEUM CORP. D/B/A CLARKSBORO AGWAY; W. HARGROVE ROOFING COMPANY; HOSPITAL & DOCTORS SERVICE BUREAU; FIRST FIDELITY BANK; COUNTY OF CAMDEN; ESSEX COUNTY; ELMA HALL; MABEL VICTOR; AND ROBIN REDDICK, DEFENDANTS.

Superior Court of New Jersey, Appellate Division.

Decided March 17, 1997.

Attorney(s) appearing for the Case

Shapiro & Kreisman, attorneys for appellant (Kristina G. Murtha, on the brief).

Saiber Schlesinger Satz & Goldstein, attorneys for respondent (Susan A. Degli — Antoni, on the brief).

Before Judges MICHELS, KLEINER, and COBURN.

COBURN, J.S.C. (temporarily assigned).

In this mortgage foreclosure action, plaintiff Virginia Beach Federal ("VBF"), the first mortgagee, and defendant The Bank of New York ("BNY"), the second mortgagee, claim the legal right to surplus funds generated at the sheriff's sale of the mortgaged property. VBF seeks reimbursement from the surplus funds for payment of real estate taxes, insurance premiums, and property inspection...

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