On January 19, 2018 our law firm succeeded in helping a commercial property owner recover title to his property that was lost in a tax foreclosure case. About a month after the foreclosure judgment was entered our client secured the funds necessary to pay off the plaintiff's tax sale certificate. We persuaded the trial judge that these "changed circumstances" made it inequitable to continue to enforcing the judgment.
The property represented a tax sale investor's dream because of the substantial windfull that the investor stood to gain over and above its approximate $65,000 investment. The property is worth $300,000 and has no mortgage. Thus, our client faced the prospect of seeing his substantial equity cushion go down the drain. As a result of our efforts we preserved more than $200,000 of equity for our client.
The case is Bascom Corp. v. Mullen, Superior Court of New Jersey, Chancery Division, Passaic County, Docket No.: F-13914-16.