Green Knight Capital v. Calderon

Plaintiff held a tax sale certificate on a condo unit. After waiting the requisite two-year period, Plaintiff filed a complaint to foreclose on the property owner’s right of redemption and obtain title to the property. Respondent then purchased the property from Defendant. On the date the sale of the property closed, a check for the full redemption amount was sent to the tax collector. Plaintiff advised the tax collector to reject the attempted redemption as illegal and directed the tax collector to return the funds. Two days later, Plaintiff filed a request to enter default and filed a motion for an order setting the redemption time, place, and amount. The motion remained undecided. Two weeks later, Plaintiff filed a motion to bar redemption and impose a constructive trust. Although Respondent had already tendered a check for the total redemption amount, Respondent filed a cross-motion to intervene and permit redemption before the lower court set a date for redemption. The court denied Plaintiff’s motion to set the time, place, and manner for redemption as moot. Plaintiff appealed, and the New Jersey Appellate Division affirmed. The Court held that when an investor has an interest in the property in foreclosure, is prepared to redeem the tax sale certificate, and files a motion to intervene in the foreclosure action before the entry of an order setting the last date for redemption, the investor is permitted to intervene and redeem the tax certificate.

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