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BOROUGH OF MERCH. v. MALIK & SON

A-66 September Term 2012, 072255

95 A.3d 709 (2014)

218 N.J. 556

BOROUGH OF MERCHANTVILLE, Plaintiff-Respondent, v. MALIK & SON, LLC and/or Shaukat Malik and/or Bobby Malik, Wellwood Realty, LP, UBS Principal Finance, LLC, Lasalle Bank National Association, LB-UBS Commercial Mortgage Trust, Bank of America, German American Capital Corporation (a Maryland Corporation), Dawn-BV, LLC, LB-UBS 2000-C3 Wellwood Manor, LLC, Wachovia Bank, NA, Tax Lien Service Group, Camden County Municipal Utilities Authority, and the Merchantville Pennsauken Water Commission, Defendants, and LB-RPR REO Holdings, LLC, Defendant-Appellant, and U.S. BANK, as Custodian for Crestar Capital, LLC, Defendant-Respondent.

Supreme Court of New Jersey.

Decided August 7, 2014.

Attorney(s) appearing for the Case

Stuart M. Lederman argued the cause for appellant (Riker Danzig Scherer Hyland & Perretti, attorneys; Mr. Lederman and Rudy S. Randazzo, Morristown, on the briefs).

Timothy J. Higgins argued the cause for respondent Borough of Merchantville.

Adam D. Greenberg, Voorhees, submitted a letter in lieu of brief on behalf of respondent U.S. Bank, as custodian for Crestar Capital, LLC (Honig & Greenberg, attorneys).

Judge CUFF (temporarily assigned) delivered the opinion of the Court.

In this appeal, the Court must determine whether N.J.S.A. 20:3-6 requires a condemning authority to engage in bona fide negotiations with a mortgage holder that has obtained a final judgment of foreclosure for the property sought to be condemned. In this case, the condemning authority initiated eminent domain proceedings after the property owner rejected its offer to acquire the property...

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