Joy Harmon Sperling and Rachel Packer authored an article titled "New Jersey Appellate Division Upholds Priority of Mortgage Over Life Estate" in a recent edition of the New Jersey Law Journal. The article refers to a decision rendered by the Appellate Division in Ocwen Loan Services v. Quinn, where the Court affirmed a decision of the Superior Court, Passaic County, granting summary judgment to a plaintiff-mortgagee. The Court held that the life estates of two defendants who did not sign the plaintiff's mortgage was subordinated to the mortgage based on the equitable principles recognized by the Court in Sovereign Bank v. Gillis, 432 N.J. Super. 36 (App. Div. 2013), and the principles of replacement and modification. In the affirmed ruling of the trial court, the Hon. Margaret Mary McVeigh allowed the plaintiff to "step into the shoes of its prior mortgage which its own funds satisfied," but capped the amount of plaintiff's priority at $260,000 - the amount of the prior satisfied mortgage, plus an additional $43,019.85 for taxes and insurance advanced by the plaintiff and its predecessors while the mortgage loan was in default. The Court concluded that this result put the defendants in the same position they were in when they signed the prior $260,000 mortgage to which they subordinated their life estates, and for that reason, affirmed the trial court order.
Thomas J. O'Neill and Melissa Bruynell Manesse authored an article, "Mortgage Lender Loses Appeal in MA Foreclosure Case," for Mortgage Daily.
Rachel G. Packer and Joy Harmon Sperling authored an article, "Ocwen Victory Good for All NJ Home Lenders: Appellate division finds mortgage outlives life estate," for Mortgage Daily.
Joy Harmon Sperling and Karen Wilson-Robinson authored an article, "Lender Filing Foreclosure Complaint Does Not Trigger Statute of Limitations," for the New Jersey Law Journal.
Joshua Cohen and Clifford Nichols authored an article, titled, "Buyer Beware: The Bits and Bytes Could Get You," for the ABI Bankruptcy Litigation Committee Newsletter.
Jed Davis was quoted in a breaking news article, "New York eases proposed cyber regulations after industry complaints," published by Reuters.
Joy Harmon Sperling was featured in an article, "Rainmaker Q&A: Day Pitney's Joy Harmon Sperling," in Law360.
Stamford, Conn., August 24, 2015 - Day Pitney is pleased to announce that 68 attorneys have been selected for inclusion in the 2016 Best Lawyers in America. Best Lawyers ranks lawyers through peer-review surveys, and has been published annually since 1983.