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NJ App Div Holds Foreclosing Lender Who Simply Winterized and Secured a Condo Is Not a Mortgagee in Possession and Not Responsible for Condo Fees

/ Owner - June 12, 2017

In a noteworthy decision for New Jersey lenders approved for publication, the New Jersey Appellate Division recently held that a lender who simply winterizes and secures an abandoned property in foreclosure is not deemed a mortgagee in possession subject to condominium association fees. See Woodlands Cmty. Ass’n, Inc. v. Mitchell, 2017 WL 2437036 (N.J. Super. Ct. App. Div. June 6, 2017). In Mitchell, the borrower defaulted on his loan with the lender and abandoned his condominium.    Read the article…………..

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