The Employers' Fire Ins. Co. v. Ritter

The defendants Carmela Bornacci and Joseph Bornacci, owners of property situate at Westfield, Union county, New Jersey, mortgaged same to Barbara Ritter. Complainant issued its fire insurance policy to the owners. Attached to the policy was a standard mortgagee clause, loss payable to Barbara Ritter as first mortgagee, as her interest may appear.

The mortgagee foreclosed and at the sale bought the property. The sheriff's deed is dated July 21st, 1930, and was recorded August 13th, 1930. There was due on the mortgages at the time of the master's report, March 18th, 1930, for principal and…