The applicant mortgagee brought a motion for payment out of court of the proceeds from a municipal tax sale of a property.
The property was sold by the township for tax arrears, and the remaining funds of $94,444.92 were paid into court.
The court determined that the applicant had first priority as mortgagee and awarded it $78,528.35 for the mortgage, plus prejudgment interest and costs.
The respondent mortgagor was entitled to the residual amount of $8,986.33.
