K. Woodmere Associates, L.P. v. Menk Corp.

The opinion of the court was delivered by

FALL, J.S.C.

(temporarily assigned).

In this declaratory judgment appeal, we consider the novel issue of competing claims by present and prior property owners to cash performance bonds posted by the prior owner pursuant to municipal approvals for development of that property. After a non-jury trial, the judge ruled in favor of the current property owner, determining the “as is” quitclaim deeding of title to the property transferred the prior owner’s interest in the cash performance bonds to the current property owner. The trial judge ruled that absent…