Re: tenant in house in foreclosure
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
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Comments:: : 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 Optional Link URL : Link Title : Optional Image URL: