Raniere v. I & M Investments, Inc.

• Decision Date: 04 February 1980
• Citation: 411 A.2d 719,172 N.J.Super. 206
• Parties: Tony E. RANIERE and Margaret Raniere, Plaintiffs-Respondents, v. I & M INVESTMENTS, INC. and Colonial Mortgage Service Company, Defendants-Appellants, and Central Jersey Bank and Trust Company, Defendant-Respondent.
• Court: New Jersey Superior Court — Appellate Division

Page 206

172 N.J.Super. 206

411 A.2d 719

Tony E. RANIERE and Margaret Raniere, Plaintiffs-Respondents, v. I & M INVESTMENTS, INC. and Colonial Mortgage Service

Company, Defendants-Appellants,

and

Central Jersey Bank and Trust Company, Defendant-Respondent.

Superior Court of New Jersey, Appellate Division.

Argued Jan. 21, 1980.

Decided Feb. 4, 1980.

Steven Pfeffer, Jackson, for defendants-appellants (Matthews, Levin, Shea & Pfeffer, Jackson, attorneys; Michael E. Levin, Jackson, on the brief).

Frederick L. Blankenhorn, Asbury Park, for defendant-respondent The Central Jersey Bank & Trust Company (Blankenhorn & Ragan, Asbury Park, attorneys; Frederick L. Blankenhorn, Asbury Park, on the brief).

Gary E. Fox, Red Bank, for plaintiffs-respondents Tony E. Raniere and Margaret Raniere (Abramoff & Apy, Red Bank, attorneys; Gary E. Fox, Red Bank, on the letter brief).

Before Judges ALLCORN, MORGAN and FRANCIS.

PER CURIAM.

A purchaser of land at an execution sale, I & M Investments, Inc., defendant-appellant herein, challenges a summary judgment in plaintiffs' favor granted on the ground that the execution sale was void, not merely voidable, where resort was not first made to plaintiffs' personalty, as required by N.J.S.A. 2A:17-1 which reads:

In every writ of execution which shall be issued against real estate, the sheriff or other officer to whom such writ may be directed shall be commanded that he cause to be made, of the goods and chattels in his county of the party against whom such execution issues, the debt, damages and costs or sums of money mentioned in such execution; and that, if sufficient goods and chattels of such party cannot be found in his county, he cause the whole or the residue, as the case may require, of such debt, damages and costs or sum of money to be made of the real estate whereof such party was seized on the day when such real estate became liable to such debt, damages and costs or sum of money, specifying the day particularly, or at any time afterwards, in the hands of any person then having the same.

Implementing this ruling were orders requiring defendant Central Jersey Bank & Trust Company, the judgment creditor, to reimburse appellant for all sums appellant paid as a result of the execution sale and requiring plaintiffs to reimburse appellant for all funds expended to satisfy liens against the property.

Hence, by this implementing order, appellant purchaser was returned to its position before the execution sale took...