Regency Savings Bank v. Southgate Corporate Office Center

The opinion of the court was delivered by

COBURN, P.J.A.D.

This dispute between the Morris County Sheriff and plaintiff, Regency Savings Bank, F.S.B., as mortgagee, arose after Regency obtained a judgment in foreclosure, issued a writ of execution to the sheriff, and then settled with defendants before the sheriffs sale. The primary question to be resolved is the amount of the fee due to the sheriff under N.J.S.A. 22A:4-8.

The sheriff based his fee claim on the amount of the foreclosure judgment, almost $36 million. He asserted that sum was the settlement received by Regency from defendants in…