Richard Simon v. Richard William Cronecker, His Heirs, Devisees and Personal…

Summary

The Supreme Court of New Jersey reversed the trial court, holding that the Tax Sale Law does not forbid a third‑party investor from redeeming a tax‑sale certificate after a foreclosure complaint is filed if the investor timely intervenes and pays more than nominal consideration; because Cherrystone failed to intervene, its redemption was invalid and a constructive trust was imposed. The Court also clarified the meaning of “more than nominal consideration.”