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SHOTMEYER v. N.J. REALTY TITLE INS. CO.

A-125 September Term 2006

948 A.2d 600 (2008)

195 N.J. 72

Henry J. SHOTMEYER and Charles P. Shotmeyer, partners trading as Beaver Run Farms, a general partnership and Beaver Run Farms, L.P., Plaintiffs-Respondents, v. NEW JERSEY REALTY TITLE INSURANCE COMPANY, Defendant-Appellant.

Supreme Court of New Jersey.

Decided June 5, 2008.

Attorney(s) appearing for the Case

Dennis M. Gonski, Carle Place, NY, argued the cause for appellant (Dollinger, Gonski & Grossman, attorneys).

Melinda B. Maidens, Hawthorne, argued the cause for respondents (Jeffer, Hopkinson & Vogel, attorneys).

Michael J. Fasano, Freehold, argued the cause for amicus curiae New Jersey Land Title Association (Lomurro, Davison, Eastman & Munoz, attorneys).

Chief Justice RABNER delivered the opinion of the Court.

In 1981, a general partnership, comprised of two individual partners, bought a tract of land and obtained title insurance for the property. Ten years later, the general partnership conveyed the property to a limited partnership controlled by the same two individuals. The limited partnership did not obtain a new title insurance policy. Another decade later, when the partners discovered a defect in title, they...

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