Rosenbaum Realty Co. v. American Savings Bank

Dwyer, J. S. C.

The matter before the court for decision supports the soundness of the suggestion in 29 N. J. Practice (Cunningham and Tischler, Law of Mortgages), § 163 at 725 (1975) that “every well-drawn New Jersey real estate mortgage will contain a clause providing expressly that the mortgagor will not claim any credit against the interest payable on the mortgage debt for taxes paid, or a provision that "no deduction shall be made from the taxable value of the lands by reason of the mortgage,’ ” for in this action Rosenbaum Realty Company, a New Jersey partnership (Rosenbaum), seeks a…