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MMU OF NEW YORK, INC. v. GRIESER

No. A-2484-08T3.

999 A.2d 1204 (2010)

415 N.J. Super. 37

MMU OF NEW YORK, INC., as Assignee of 200 Ocean Boulevard Associates, L.P., Plaintiff-Appellant, v. Gary GRIESER, a/k/a Gary Greiser, a/k/a Gary Griser, a/k/a Gary D. Grieser, Jr., Defendant-Respondent.

Superior Court of New Jersey, Appellate Division.

Decided August 4, 2010.

Attorney(s) appearing for the Case

Porzio, Bromberg & Newman, attorneys for appellant (Michael L. Rich, Morristown, of counsel and on the briefs; Josh M. Mann, Short Hills, on the briefs).

Jules L. Rossi, Manasquan, attorney for respondent.

Before Judges SKILLMAN, FUENTES and SIMONELLI.

The opinion of the court was delivered by

SKILLMAN, P.J.A.D.

The primary issue presented by this appeal is whether a judgment debtor is entitled to a fair market value credit for property that is executed upon and then purchased by a judgment creditor at a sheriff's sale for a nominal amount. We conclude that, even in the absence of express statutory authorization, a court has inherent equitable authority to allow a fair market value credit in order to prevent...

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