A mortgagee who acquires a deed in lieu of foreclosure should be protected by the same three-year statute of limitations on a municipal lien that would apply to an outright purchaser of the property, an attorney for the mortgagee argued before the state Supreme Court last week.
Bruce Bellingham of Spector Gadon & Rosen said his client Philadelphia Transload & Logistics, which acquired the deed to a property when its borrower defaulted on a loan, was not aware of a $117,000 lien for gas services that was outstanding but hadn’t yet been made public by the city of Philadelphia.
