FIDELITY LAND DEV. CORP. v. RIEDER & SONS BUILDING AND DEV. CO.


151 N.J. Super. 502 (1977)

377 A.2d 691

FIDELITY LAND DEVELOPMENT CORPORATION, PLAINTIFF-RESPONDENT, v. RIEDER & SONS BUILDING AND DEVELOPMENT CO., INC., DEFENDANT-APPELLANT.

Superior Court of New Jersey, Appellate Division.

Decided June 29, 1977.


Attorney(s) appearing for the Case

Messrs. Greenbaum, Greenbaum, Rowe & Smith, attorneys for appellant (Mr. Dennis A. Estis on the brief).

Messrs. Gutkin, Miller, Shapiro, Berson & Hochberg, attorneys for respondent (Mr. Barry I. Siegel on the brief).

Before Judges BISCHOFF, MORGAN and KING.


PER CURIAM.

This appeal concerns the validity of so-called "due on transfer" clauses frequently found in mortgage notes and the conditions of their enforcement. Also involved is the essentially factual issue concerning the construction of the clause found in the mortgage note which purports to specify its date of maturity in terms of the date on which "building permits shall become available for construction upon the premises * * *."

The facts appear to be...

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