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Fort Lee Savings & Loan Ass'n v. Li Butti

Supreme Court of New Jersey
Apr 20, 1970
55 N.J. 532 (N.J. 1970)
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Summary

reversing on dissenting opinion below, 106 N.J. Super. at 214

Summary of this case from Morsemere Fed. Sav. Loan Ass'n v. Nicolaou
See 4 Summaries

Opinion

Argued November 3, 1969 —

Decided April 20, 1970.

Appeal from Superior Court, Appellate Division.

Mr. Richard S. Miller argued the cause for appellant ( Messrs. Williams, Gardner, Caliri, Miller and Otley, attorneys).

No appearance for respondents.

PER CURIAM.

The judgment of the Appellate Division is reversed for the reasons given in the dissenting opinion of Judge Carton. Fort Lee Savings and Loan Ass'n v. Li Butti, 106 N.J. Super. 211 , 214 (App.Div. 1969).

For reversal — Chief Justice WEINTRAUB and Justices JACOBS, FRANCIS, PROCTOR, HALL, SCHETTINO and HANEMAN — 7.

For affirmance — None.

Summaries of

Fort Lee Savings & Loan Ass'n v. Li Butti

Supreme Court of New Jersey
Apr 20, 1970
55 N.J. 532 (N.J. 1970)

reversing on dissenting opinion below, 106 N.J. Super. at 214

Summary of this case from Morsemere Fed. Sav. Loan Ass'n v. Nicolaou

declining to recognize entireties estate in New Jersey in surplus funds from a mortgage foreclosure of tenancy by the entireties real estate

Summary of this case from In re Massey

In LiButti, the Court adopted the dissenting opinion below, reversing the majority's holding that "surplus money arising from a foreclosure sale of real property held by the entirety 'stands in the place of the land itself in respect to liens thereon or vested rights therein.'"

Summary of this case from Wilmington Savings Fund Soc'y, FSB v. Schneeweiss

In Fort Lee Savings Loan Ass'n v. LiButti, 55 N.J. 532 (1970), the Supreme Court held, on the basis of a dissenting opinion in this court by Judge Carton, 106 N.J. Super. 211, 214 (App.Div. 1969), that where realty held in a tenancy by the entirety is subject to a foreclosure sale, any surplus monies received from the sale are not held by the entirety and hence a judgment creditor of one spouse may obtain that spouse's share of the surplus.

Summary of this case from State, Dept. of Treasury v. Myndyllo
Case details for

Fort Lee Savings & Loan Ass'n v. Li Butti

Case Details

Full title:FORT LEE SAVINGS LOAN ASSOCIATION, A NEW JERSEY CORPORATION, PLAINTIFF, v…

Court:Supreme Court of New Jersey

Date published: Apr 20, 1970

Citations

55 N.J. 532 (N.J. 1970)
264 A.2d 33

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