FIRST NAT. BANK AND TRUST CO. v. MacGARVIE


22 N.J. 539 (1956)

126 A.2d 880

FIRST NATIONAL BANK AND TRUST COMPANY, WOODBURY, NEW JERSEY, A NATIONAL BANKING CORPORATION, PLAINTIFF-RESPONDENT, v. JAMES B. MACGARVIE, THE ATCO NATIONAL BANK, A NATIONAL BANKING CORPORATION, EDWARD ROBBINS, SR., AND THE STATE OF NEW JERSEY, DEFENDANTS-RESPONDENTS AND THE UNITED STATES OF AMERICA, DEFENDANT-APPELLANT.

The Supreme Court of New Jersey.

Decided November 13, 1956.


Attorney(s) appearing for the Case

Mr. John J. McCarthy, of the District of Columbia Bar, argued the cause for the defendant-appellant, The United States of America (Messrs. Herman Scott, United States Attorney, and Charles H. Nugent, Assistant United States Attorney, attorneys; Messrs. Charles K. Rice, Andrew D. Sharpe, A.F. Prescott, John J. McCarthy, attorneys, Department of Justice, on the brief).

Mr. Norman Heine argued the cause for the plaintiff-respondent, The Atco National Bank, assignee of First National Bank and Trust Company, Woodbury, New Jersey.


The opinion of the court was delivered by BURLING, J.

The First National Bank and Trust Company, Woodbury, New Jersey, held a first mortgage on property of defendant MacGarvie securing a sum of nearly $30,000. Default occurred and foreclosure proceedings were initiated by the first mortgagee. There were other parties who had liens encumbering the property at this time, in the following order of priority: Robbins, a judgment creditor (approximately $1,400); the United...

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