The recent holding by the New Jersey Supreme Court in Rosenthal & Rosenthal v. Vanessa Benun (a/k/a Vanessa Broochian and Elan Broochian) and Riker Danzig, 226 N.J. 41 (2016), is a clarion call to the New Jersey legislature to take action. The action required is an amendment to the mortgage priority statute in New Jersey to enable a senior, commercial lender to make future advances of principal, up to the stated amount in the mortgage or credit agreement, without the risk of being primed by a subsequent lender who is granted a mortgage on the same real property. The statutory amendment will override New Jersey common law, the latest chapter of which is reflected in the Rosenthal decision.
To view this content, please continue to Lexis Advance®.
Not a Lexis Advance® Subscriber? Subscribe Now
LexisNexis® is now the exclusive third party online distributor of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® customers will be able to access and use ALM's content by subscribing to the LexisNexis® services via Lexis Advance®. This includes content from the National Law Journal®, The American Lawyer®, Law Technology News®, The New York Law Journal® and Corporate Counsel®, as well as ALM's other newspapers, directories, legal treatises, published and unpublished court opinions, and other sources of legal information.
ALM's content plays a significant role in your work and research, and now through this alliance LexisNexis® will bring you access to an even more comprehensive collection of legal content.
For questions call 1-877-256-2472 or contact us at firstname.lastname@example.org