Search Rutgers Law Library N.J. Court Opinions

1 BANK OF AMERICA NATIONAL ASSOCIATION v. R.H. SURGENT, LLC -- rank: 1000

... S. Home Corp., 243 N.J. 92, 94 (2020) (citing N.J.S.A. 2A:50-2). Therefore, '[i]t is clear that even a party who ...

docket:	a5423-18
court:	NJ Superior Court Appellate Division
decided:	2022-08-31
status:	Unpublished
citation:
Document Size:	115742

2 NEAL BORDEN v. CADLES OF GRASSY MEADOWS ii, llc -- rank: 985

... months after the sale of the property, as required by N.J.S.A. 2A:50-2. As a result, they alleged they never received an FMV ... debt and costs of suit. This provision was codified as N.J.S.A. 2A:50-2 and amended by: L. 1881, c. 147, § 1; L. 1932 ... made a party in the action to foreclose the mortgage. [ N.J.S.A. 2A:50-2.] Section 3 of the 1880 Act, as amended by the ... residence in which the owner or his immediate family resides . . . . [ N.J.S.A. 2A:50-2.3.] This new provision left intact the DeMarco holding that ... sheriff's sale. Id. at 644-45. We next considered N.J.S.A. 2A:50-2 and -3, in Errico , supra , 251 N.J. Super. 236 ... 239. We were required, among other things, to decide whether N.J.S.A. 2A:50-2.3 constituted a public policy of this State that ...

docket:	a2386-08
court:	superior court appellate division
decided:	2010-04-05
status:	Published
citation:	412 N.J. Super. 567 992 A.2d 4
Document Size:	115513

3 LEONE DAUGHTERS REALTY MANAGEMENT CORP v. NAHEED A. KHAN, M.D -- rank: 973

... deficiency. Id. at 125-26 (citing A-3650-20 8 N.J.S.A. 2A:50-2); see also DeMarco, 44 N.J. at 532. Such an ... full deficiency out of its debtor's other property. Ibid. N.J.S.A. 2A:50-2 requires 'foreclosure first' for mortgages, unless exempted by N.J.S.A. 2A:50-2.3. The statutory exceptions to the 'foreclosure first' rule are ... the time of institution of proceedings to collect the debt; [N.J.S.A. 2A:50-2.3.] As we have previously observed, 'the Legislature created [these ... Salem Marina, Inc., 190 N.J. 342, 351 (2007) (discussing N.J.S.A. 2A:50-2.3 and setting forth the exceptions to the 'foreclosure first ... Inc., 190 N.J. at 350-51 (discussing history of N.J.S.A. 2A:50-2); see also Sponsor's Statement to S. 732 6 ( ...

docket:	a3650-20
court:	NJ Superior Court Appellate Division
decided:	2022-12-05
status:	Unpublished
citation:
Document Size:	39368

4 est Pleasant-CPGT, Inc. v. U.S. Home Corporation -- rank: 926

... legislative history of the relevant statutes. In its present form, N.J.S.A. 2A:50-2 provides that, after the foreclosure of a mortgage, if the ... funds to satisfy the debt, including interest and costs. See N.J.S.A. 2A:50-2. In response, the debtor may seek a fair market value ... deficiency action on the bond or note within three months, N.J.S.A. 2A:50-2 to -2.1. It is in response to the creditorâ ... Marina, Inc., 190 N.J. 342, 351 (2007); 20 see N.J.S.A. 2A:50-2.3. Specifically, an exemption exists where “the debt secured ... in which the owner or his immediate family resides.” N.J.S.A. 2A:50-2.3(a). Thus, creditors are not required to follow the ...

docket:	a-1-19
court:	NJ Supreme Court
decided:	2020-07-08
status:
citation:
Document Size:	54357

5 WEST PLEASANT-CPGT, INC v. U.S. HOME CORPORATION -- rank: 917

... within three months of the date of the sale. 3 N.J.S.A. 2A:50-2. The debtor may dispute the amount of the deficiency sued ... provisions, however, do not apply to business or commercial transactions. N.J.S.A. 2A:50-2.3; Brunswick Bank & Tr. v. Affiliated Bldg. Corp, 440 N ... 4 (App. Div. 2018). We applied equitable principles, despite the N.J.S.A. 2A:50-2.3 commercial/business exemption, to impose a fair market value ... of the confirmation of the sale of the mortgaged' property. N.J.S.A. 2A:50-2. A-1441-17T3 6 relief in the interests of justice ... or business mortgagee, not bound by the 'foreclosure first requirement,' N.J.S.A. 2A:50-2.3, can choose to collect on the note without first ... 2A:50-3 is not applicable to this commercial transaction, N.J.S.A. 2A:50-2.3, obvious logic dictates that the calculation of the ...

docket:	a1441-17
court:	NJ Superior Court Appellate Division
decided:	2019-05-02
status:	Unpublished
citation:
Document Size:	50690

6 CHO HUNG BANK v. KI SUNG KIM et al. -- rank: 802

... the mortgagee from the need to comply with FFA. Unlike N.J.S.A. 2A:50-2.3 (the Mortgage Foreclosure Act, N.J.S.A. 2A:50-2 to 50 -10), FFA does not exclude debts secured for ...

docket:	a5720-01
court:	njappellate
decided:	2003-06-25
status:	published
citation:	361 N.J. Super. 331
Document Size:	27536

7 /usr/local/share/www/libweb/collections/courts/appellate/a3641-19.opn.html -- rank: 797

... 2(e). Wilmington Savings argued that the exception found in N.J.S.A. 2A:50- 2.3(d) applied, acting as a defense to the one ... for lapse of time.' She distinguished the exception found in N.J.S.A. 2A:50-2.3(d) because Decision One was the lender on both ... institution or association has an affiliation. A-3641-19 4 [N.J.S.A. 2A:50-2.3(d).] Additionally, the principal case Wilmington Savings offered in ... 8 AND FAILED TO CONSIDER THE APPLICABLE EXCEPTION CONTAINED IN N.J.S.A. 2A:50- 2.3([d]). POINT III BASED ON THE APPLICABILITY OF THE EXCEPTION CONTAINED IN N.J.S.A. 2A:50- 2.3([d]), THE CONTROLLING STATUTE OF LIMITATIONS IS N.J ... exception to the one-year statute of limitations found in N.J.S.A. 2A:50-2.3(d) applies because it is a different banking ...

docket:
court:
decided:
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Document Size:	14452

8 THE CHASE MANHATTAN BANK V. MR. AND MRS. SEYMOUR JOSEPHSON -- rank: 755

... the mortgagee must bring an action to foreclose the mortgage, N.J.S.A. 2A:50-2, obtain a writ of execution for sale of the mortgaged ...

docket:	a-22-93
court:	njsupreme
decided:	1994-04-13
status:
citation:	135 N.J. 209
Document Size:	111875

9 FORECLOSED ASSETS SALES AND TRANSFER PARTNERSHIP v. RICHARD M. STRAUSS -- rank: 747

... three-month statute of limitations for instituting a deficiency action, N.J.S.A. 2A:50-2, compelled plaintiff to file its complaint seeking a deficiency judgment ... 17, 2017, which occurred prior to the Notice being filed. N.J.S.A. 2A:50-2 provides in pertinent part: Except as otherwise provided, all proceedings ... to comply with the three-month statute of limitations deadline, N.J.S.A. 2A:50-2, and because he was not provided with fair market value ... days of the sheriff's sale as asserted by defendant. N.J.S.A. 2A:50-2. Because the Notice was sent to defendant within the statutory ... the condominium. An action on a note for deficiency under N.J.S.A. 2A:50-2 must be strictly construed since the statute is in derogation ... sale and, therefore, its complaint was properly dismissed summarily. See N.J.S.A. 2A:50-2. We have previously warned about the perils of mailing ...

docket:	a3360-17
court:	NJ Superior Court Appellate Division
decided:	2019-03-08
status:	Unpublished
citation:
Document Size:	16520

10 First Union National Bank v. Penn Salem Marina, Inc., et als -- rank: 699

... an action to foreclose on the mortgage has occurred. See N.J.S.A. 2A:50-2. That same limitation, however, does not always apply when a ... many of the differences between bond and note holders. See N.J.S.A. 2A:50-2. Thus, many of the same restrictions historically placed on deficiency ... to a mortgage were bound by the “foreclosure first” rule. N.J.S.A. 2A:50-2.3 sets forth several exceptions to the foreclosure first rule ...

docket:	a-11-06
court:	njsupreme
decided:	2007-05-10
status:
citation:	190 N.J. 342
Document Size:	52532

11 POWERHOUSE FIRST, LLC,1 v. WALDO JERSEY CITY, LLC -- rank: 699

... filing an action on the note in the Law Division. N.J.S.A. 2A:50-2.3; First Union Nat. Bank v. Penn Salem Marina, Inc ...

docket:	a1609-12
court:	NJ Superior Court Appellate Division
decided:	0000-00-00
status:	unpublished
citation:
Document Size:	59748

12 GMAC MORTGAGE, LLC v. CLYDE FRASER and TOYE MCCASTLE FRASER -- rank: 679

... to compel payments by defendants, then it appears contrary to N.J.S.A. 2A:50-2. That statute provides in pertinent part: Except as otherwise provided ... an amount sufficient to satisfy the debt, interest and costs. [ N.J.S.A. 2A:50-2.] Thus, before collection proceedings may begin on the mortgage debt ... 2008, and July 7, 2008, appear to be contrary to N.J.S.A. 2A:50-2, prohibiting collection on the debt before the foreclosure has concluded ...

docket:	a4301-08
court:	superior court appellate division
decided:	2010-07-23
status:	unpublished
citation:
Document Size:	38899

13 WORLD SAVINGS BANK v. RUSS BADDOUCH -- rank: 667

... the right to assert a deficiency judgment against them. See N.J.S.A. 2A:50-2 ('No action shall be instituted against any person answerable on ...

docket:	a5514-16
court:	NJ Superior Court Appellate Division
decided:	2018-11-16
status:	Unpublished
citation:
Document Size:	12264

14 ATLANTIC STEWARDSHIP BANK v. PUDDINGSTONE FUNDING LLC -- rank: 649

... of a fair market value credit. In the first instance, N.J.S.A. 2A:50-2 and -3, which together set forth the obligation of a ... apply to residential mortgage foreclosures. This is made clear by N.J.S.A. 2A:50-2.3, which specifies in relevant part: This act shall not ...

docket:	a0126-12
court:	NJ Superior Court Appellate Division
decided:	2013-10-28
status:	unpublished
citation:
Document Size:	29844

15 RAYMOND ARNE VS RONALD & CAROL BROCK LIOTTA & ET ALS -- rank: 644

... 50-8 was inapplicable because of the exception noted in N.J.S.A. 2A:50-2.3. Accordingly, judgment was entered in favor of plaintiffs and ... November 1991.          The Liottas argue for an expansive reading of N.J.S.A. 2A:50-2.3 to equate "residence" to "domicile" reflecting an intent that ... is no reported decision defining the concept of residence under N.J.S.A. 2A:50-2.3, we are satisfied that the statutory reference to residence ...

docket:	a6891-96
court:	njappellate
decided:	1998-07-10
status:	published
citation:
Document Size:	19035