Seacoast Real Estate Co. v. American Timber Co.
Supreme Court of New Jersey
On appeal from a decree of the court of chancery advised by Vice-Chancellor Foster, and reported in 89 N. J. Eq. 293. This is a foreclosure. The conveyances are deeds in form but are admitted to be mortgages. The complainants were mortgagees in possession and concede their liability to account. The only questions argued in this court relate to the accounting. The difficulty arises out of the peculiar character of the mortgaged property.
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On appeal from a decree of the court of chancery advised by Vice-Chancellor Foster, and reported in 89 N. J. Eq. 293. This is a foreclosure. The conveyances are deeds in form but are admitted to be mortgages. The complainants were mortgagees in possession and concede their liability to account. The only questions argued in this court relate to the accounting. The difficulty arises out of the peculiar character of the mortgaged property. It is situated along the Atlantic ocean and Manasquan river at Manasquan inlet. It was, and is, subject to the inroads of the sea and river. In 1882 the…
1Opinion of the Court
The opinion of the court was delivered by
Swayze, J.
We pass over the questions discussed by the learned vice-chancellor and ably argued by counsel whether the scheme of repairing the government dike was well advised and well planned, and whether the' repairs of 1914 were well executed. We pass over also the interesting question whether what was done was merety by way of repairs to the mortgaged premises, or whether it was an improvement, with the sole remark that where the question arises with reference to riparian lands and tire effect of the work is to make new land by way of preservation of…
2Cases cited3 opinions
- Shively v. BowlbySupreme Court of the United States · 1894
- Gibson v. United StatesSupreme Court of the United States · 1897
- South Carolina v. GeorgiaSupreme Court of the United States · 1876
3Cited by11 opinions
- New Jersey v. New YorkSupreme Court of the United States · 1998
- Georgia v. South CarolinaSupreme Court of the United States · 1990
- Borough of Wildwood Crest v. MASCIARELLASupreme Court of New Jersey · 1968
- Leonard v. State Highway Dept. of NJNew Jersey Superior Court Appellate Division · 1954
- Harz v. Board of Commerce NavigationNew Jersey Court of Chancery · 1939
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