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Posted by fRANK on August 30, 2005 at 22:20:23:
In Reply to: Re: tenant in house in foreclosure posted by Nick(Colorado) on August 30, 2005 at 10:48:04:
: Frank,
: OK, assuming that you are referring to:
: (Chase Manhattan Bank vs. Josephson) 261 NJ. Super. 428, 619 A.2d 241
: Holding:
: Affirmed. The defendants claimed that the 1986 amendments to New
: Jersey's Anti-Eviction Act, overturned existing case law, and now
: required foreclosing mortgagees to comply with the removal for cause
: provision in the Anti-Eviction Act. The Superior Court rejected the
: defendants' argument after analyzing the legislative history of the
: 1986 amendments, and determining that the law was not intended to
: alter the property rights of legitimate mortgagees.
: How does this help?
: Ruth Farr indicates that the property is not located in New
: Jersey. And the above case only restates that a mortgage
: predating a tenancy lease, has priority over that lease.
: The mortgage may eveict without cause.
Good Job Nick,
But what if the lease predates the mortgage?
Even if it dont, it buys a lot of time and may make the lender want to take a substab=nial discounted settelmemt.
Frank