Mihranian, Inc. v. Padula
| Decision Date | 09 June 1976 |
| Citation | 359 A.2d 473,70 N.J. 252 |
| Parties | MIHRANIAN, INC., a Corporation of the State of New Jersey, Plaintiff- Respondent, v. Samuel PADULA et al., Defendants-Third-Party Plaintiffs-Respondents, v. JERSEY COAST SEARCH AND ABSTRACT COMPANY and Commonwealth Land Title Insurance Company, Third-Party Defendants-Appellants. |
| Court | New Jersey Supreme Court |
Garry J. Roettger, Toms River, for Jersey Coast Search & Abstract Co. and Com. Land Title Ins. Co. (Hiering, Grasso, Gelzer & Kelaker, Toms River, attorneys).
Mark F. Saker, Freehold, for respondent Mihranian, Inc. (Cerrato, O'Connor, Mehr & Saker, Freehold, attorneys).
Gerald M. Eisenstat, Vineland, for respondent Bond and Mortgage Co. of N.J. (Shapiro, Eisenstat, Capizola, O'Neill, Lisitski & Gabage, Vineland, attorneys).
Gregory V. Sharkey, Lakewood, for respondent Villa Madrid, Inc. (Sharkey & Sacks, Lakewood, attorneys).
We affirm substantially for the reasons expressed by the Appellate Division, 134 N.J.Super. 557, 342 A.2d 523 (1975). The plaintiff, Mihranian, Inc., (Mihranian) had an equitable interest in Padula's equitable ownership when he (Padula) contracted with Bond and Mortgage Company of New Jersey (Bond and Mortgage) to purchase the land. When Mihranian rescinded its agreement with Padula, then Mihranian's vendee's lien attached to Padula's interest in the land. That lien and the filing of the complaint to enforce it justified the filing of the lis pendens and Villa Madrid, Inc. charged with notice by reason of the lis pendens took title subject to Mihranian's equitable lien. Although Bond and Mortgage at the time it closed title knew that Mihranian had rescinded its agreement with Padula, Bond and Mortgage had a right to convey its interest in the property. We express no opinion as to the rights of the respondents Inter sese.
For affirmance: Chief Justice HUGHES, Justices MOUNTAIN, SULLIVAN, PASHMAN, CLIFFORD and SCHREIBER and Judge KOLOVSKY--7.
For reversal: None.
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...dealing in real estate to avoid vendee's liens by simply assigning their rights to others and not taking legal title"), aff'd, 70 N.J. 252, 359 A.2d 473 (1976); Turner v. Houpt, 53 N.J. Eq. 526, 554, 33 A. 28 (Ch. 1895) ("Where a litigation is pending between a plaintiff and a defendant, as......
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