05/20/2022
We're very pleased to announce a major victory for our client, an owner of a commercial property who recovered title to the property that had been lost due to tax foreclosure judgment. The property was valued at least 10 times greater than the amount of the tax sale certificate, and our client suffered a loss of rental income during Covid 19 which prevented him from raising the money needed to pay the tax lien. The Court vacated the tax foreclosure judgment and provided our client with a period of 45-days to pay off the judgment and reimburse the plaintiff for its legal fees.
The win is significant because the property is unencumbered by a mortgage. Absent today's decision, our client stood to lose his entire equity position in the property.
The case is 257-261 20th AVENUE REALTY LLC, vs. ROBERTO, Superior Court of New Jersey, Chancery Division, Passaic County, Docket No. F-3349-21.