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NJ Supreme Court determines lien priority
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Court Report
Wednesday, August 24, 2016
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The Supreme Court of New Jersey recently handed down a decision regarding lien priority in a case where a mortgagee brought an action to foreclose on mortgages given to secure financing for a group of related commercial entities. After a trial court granted summary judgment on its behalf, a subsequent mortgagee appealed, arguing that its intervening mortgage took priority over optional future advances made by the first mortgagee. Read on for more details.
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