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No Such Thing As A Free House? NJ Court Says Otherwise

Publisher: Law360
July 25, 2016
Day Pitney Author(s) Joy Harmon Sperling Rachel G. Packer

Joy Harmon Sperling  and Rachel Packer wrote an article, "No Such Thing As A Free House? NJ Court Says Otherwise," for Law360.  The article examines a recent unpublished opinion rendered by the Superior Court of New Jersey, Bergen County in Anim Investment Co. v. Shaloub, No. F-30508-15, 2015 N.J. Super. Unpub. LEXIS 3042 (Ch. Div. June 30, 2016), in which the court provided a lengthy interpretation and analysis of the statute of limitations applicable to residential mortgage foreclosure actions, and ultimately held that the plaintiff in the action was time-barred from commencing an action to foreclose its mortgage. By the court’s strict interpretation of the of the statute of limitations relative to residential mortgage foreclosures, the court essentially provided the defendants with a free house by barring the plaintiff from foreclosing on its mortgage loan, and also deprived the plaintiff of an alternative equitable remedy.

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