Jackson v. HSBC Bank USA

The opinion of the court was delivered by

COBURN, P.J.A.D.

In 2000, plaintiffs, who are real estate property owners in a number of municipalities, filed this class action lawsuit. They alleged that defendant HSBC Bank USA (“HSBC”), which held tax sale certificates (“TSCs”) on their properties, had violated the Tax Sale Law, N.J.S.A. 54:5-1 to—137 (“TSL”).1

More specifically, they challenged the private installment payment plan agreements (“IPPs”), which they voluntarily entered into with HSBC in connection with those TSCs. The IPPs gave each property owner the right to pay off the TSC in…