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MERCHANTVILLE v. MALIK & SON

No. A-3745-11T4.

59 A.3d 1085 (2013)

429 N.J. Super. 416

BOROUGH OF MERCHANTVILLE, Plaintiff-Respondent, v. MALIK & SON, LLC and/or Shaukat Malik and/or Bobby Malik, Wellwood Realty, LP, UBS Principal Finance, LLC, Lasalle Bank National Association, LB-UBS Commercial Mortgage Trust, Bank of America, German American Capital Corporation (a Maryland Corporation), Dawn-BV, LLC, LB-UBS 2000-C3 Wellwood Manor, LLC, Wachovia Bank, NA, Tax Lien Service Group, Camden County Municipal Utilities Authority, and the Merchantville Pennsauken Water Commission, Defendants, and LB-RPR Reo Holdings, LLC, Defendant-Appellant, and U.S. Bank, as Custodian for Crestar Capital, LLC, Defendant-Respondent.

Superior Court of New Jersey, Appellate Division.

Decided February 5, 2013.

Attorney(s) appearing for the Case

Stuart M. Lederman argued the cause for appellant (Riker Danzig Scherer Hyland & Perretti, LLP, attorneys; Mr. Lederman , of counsel and on the brief; Rudy S. Randazzo , on the brief). Timothy J. Higgins argued the cause for respondent Borough of Merchantville.

Adam D. Greenberg , Voorhees, argued the cause for respondent Crestar Capital LLC (Honig & Greenberg, LLC, attorneys; Mr. Greenberg , on the brief).

Before Judges AXELRAD, SAPP-PETERSON and NUGENT.

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

In this condemnation case, we hold that a condemning authority is not obligated under N.J.S.A. 20:3-6 to negotiate with the assignee of a mortgagee which has obtained a final judgment of foreclosure on the subject property. Moreover, the property owner's express "formal notification of [its] rejection" of the condemnor's offer to purchase its property and vague invitation to discuss "more reasonable...

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