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SUMMIT BANK v. THIEL

740 A.2d 140 (1998)

325 N.J. Super. 532

SUMMIT BANK, Successor By Merger to Ocean National Bank, Plaintiff-Respondent, v. Dennis THIEL and Rose Thiel, husband and wife, and Allied Building Products, Inc., Defendants. In the Matter of R & H Partnership, Appellant.

Superior Court of New Jersey, Appellate Division.

Decided May 19, 1998.

Attorney(s) appearing for the Case

Lee David Medinets, for appellant.

Bourne, Noll & Kenyon, Summit, for plaintiff-respondent (Timothy A. Kalas, on the brief).

Before Judges BROCHIN, WEFING and BRAITHWAITE.

The opinion of the court was delivered by BROCHIN, J.A.D.

Appellant R & H Partnership was the highest bidder at a foreclosure sale under a mortgage on real property. Ocean National Bank was the foreclosing mortgagee, and respondent Summit Bank is its successor by merger. Before delivery of the deed, R & H Partnership moved to be relieved from its bid pursuant to N.J.S.A. 2A:61-16. Insofar as pertinent, that statute reads as follows:

Any purchaser...

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