BOROUGH OF BELMAR v. 201 16TH AVE., BELMAR


309 N.J. Super. 663 (1997)

BOROUGH OF BELMAR, AND BOROUGH OF BELMAR AS OWNER IN FEE OF 201 AND 203 16TH AVENUE, BELMAR, NEW JERSEY, PLAINTIFFS, v. 201 16TH AVENUE, BELMAR, NEW JERSEY; WASHINGTON FINANCIAL CORP.; 203 16TH AVENUE, BELMAR, NEW JERSEY AND NATIONAL LOAN INVESTORS, DEFENDANTS.

Superior Court of New Jersey, Law Division Monmouth County.

Decided August 14, 1997.


Attorney(s) appearing for the Case

Karl P. Kemm, for plaintiff (Lynch, Martin, Philibosian, Chansky, Fitzgerald & Kane, attorneys).

Susan P. Anderson, for Washington Financial Corp. (Budd, Larner, Gross, Rosenbaum, Greenberg & Sade, attorneys).

Linda S. Reinheimer, for National Loan Investors (Reinheimer & Krug, attorneys).


McGANN, J.S.C., retired and temporarily assigned on recall.

Where a bank lends money for the purchase of commercial property, which derives its value as a rooming house permitted as a nonconforming use in a residential zone, after abandonment of that use by the owner, does the mortgagee bank nonetheless possess an independent right to assert that the purchaser at the bank's foreclosure sale takes title with the benefit of this valid nonconforming use status? That...

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