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ROSENBAUM REALTY CO. v. AMERICAN SAVINGS BANK

152 N.J. Super. 81 (1977)

377 A.2d 781

ROSENBAUM REALTY COMPANY, A PARTNERSHIP, PLAINTIFF, v. AMERICAN SAVINGS BANK, DEFENDANT.

Superior Court of New Jersey, Chancery Division.

Decided July 29, 1977.

Attorney(s) appearing for the Case

Mr. Michael M. Rosenbaum for plaintiff (Messrs. Budd, Larner, Kent, Gross, Picillo and Rosenbaum, attorneys).

Mr. Joseph E. Irenas for defendant (Messrs. McCarter & English, attorneys).

DWYER, J.S.C.

The matter before the court for decision supports the soundness of the suggestion in 29 N.J. Practice (Cunningham and Tischler, Law of Mortgages), § 163 at 725 (1975) that "every well-drawn New Jersey real estate mortgage will contain a clause providing expressly that the mortgagor will not claim any credit against the interest payable on the mortgage debt for taxes paid, or a provision that `no deduction shall be made from the taxable...

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