Ocean Front Improvement Co. v. Ocean City Gardens Co.
New Jersey Court of Chancery
On final hearing on bill to quiet title. This suit is brought under our statute to quiet title to real estate. The claim of complainant is that a certain mortgage which by its terms covers tidal lands now owned by complainant under a grant from the riparian commissioners of this state is not a subsisting lien on the tidal lands.
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On final hearing on bill to quiet title. This suit is brought under our statute to quiet title to real estate. The claim of complainant is that a certain mortgage which by its terms covers tidal lands now owned by complainant under a grant from the riparian commissioners of this state is not a subsisting lien on the tidal lands. Defendant Security Trust Company, as trustee, is mortgagee of the lands in question; it is .claimed by the mortgagee, and also by the several holders of bonds secured by the mortgage, that the mortgage is a valid and subsisting lien on the tidal lands of complainant…
1Opinion of the Court
Leaming, V. C.
The primary inquiry is to ascertain whether at the time the mortgage was executed the mortgagor enjoyed merely a leasehold estate in the tidal lands with an option of purchase or an estate in fee. If the latter, it will be necessarily conceded that the lien of the mortgage' still subsists. If the former, it remains to inquire whether the after-acquired fee, acquired, as it was in effect by the vendee of the mortgagor, enured to the benefit of the mortgagee under a mortgage devoid of covenants of title or quiet enj03011011!, and, if so, whether any equity to be relieved of. the…
2Cases cited1 opinion
- Van Rensselaer v. . BallNew York Court of Appeals · 1859
3Cited by3 opinions
- Leary v. Mayor of Jersey CitySupreme Court of the United States · 1919
- Island Heights v. Presbyterian Camps & Conferences, Inc.New Jersey Superior Court Appellate Division · 1961
- University of Vermont & State Agricultural College v. WardSupreme Court of Vermont · 1932