SEARS MORTGAGE CORPORATION, PLAINTIFF-RESPONDENT,
v.
MICHAEL ROSE AND EMERY KAISER, DEFENDANTS AND THIRD-PARTY PLAINTIFFS-APPELLANTS, AND MRS. MICHAEL ROSE, WIFE OF MICHAEL ROSE; MRS. EMERY KAISER, WIFE OF EMERY KAISER; GENERAL INVESTMENT CORP., A CORPORATION OF NEW JERSEY; THEODORE JANULIS & HELEN JANULIS; STANLEY H. SPRAGUE; MORBACH-KASLANDER CO., INC., A N.J. CORP.; DEL'S ELECTRIC INC.; TURNER LUMBER COMPANY, INC.; NATIONAL SIDING CORP., A N.J. CORP.; LAKEVIEW CONDOMINIUM ASSOCIATION, DEFENDANTS,
v.
COMMONWEALTH LAND TITLE INSURANCE COMPANY, THIRD-PARTY DEFENDANT-RESPONDENT, AND JOSEPH F. GILLEN AND TRW, THIRD-PARTY DEFENDANTS.
The Supreme Court of New Jersey.https://leagle.com/images/logo.png
Argued February 16, 1993.
Decided July 29, 1993.
Attorney(s) appearing for the Case
Peter D. Ciancia argued the cause for appellant Emery Kaiser.
Richard M. Fricke argued the cause for appellant Michael Rose (Daniels & Solomon, attorneys).
Ben J. Slavitt argued the cause for respondent Commonwealth Land Title Insurance Company (Slavitt, Fish & Cowen, attorneys; Ronald G. Schecter, on the brief).
Elizabeth J. Sher argued the cause for respondent Sears Mortgage Corporation (Pitney, Hardin, Kipp & Szuch, attorneys; Ms. Sher and Loryn P. Riggiola, on the brief).
Daniel R. Hendi, Deputy Counsel, submitted a letter in lieu of brief on behalf of amicus curiae New Jersey Lawyers' Fund for Client Protection (Kenneth J. Bossong, Director, attorney).
John R. Weigel submitted a letter in lieu of brief on behalf of amicus curiae New Jersey Land Title Association.
The Supreme Court of New Jersey.
The opinion of the Court was delivered by HANDLER, J.
In this case and the companion case, Clients' Security Fund v. Security Title & Guarantee Co.,134 N.J. 358, 634 A.2d 90 (1993), also decided today, the Court must determine which party participating in the closing of a real-estate title must ultimately sustain the loss caused by the closing attorney's theft of moneys earmarked for the...
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