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Sunday, March 30, 2008

Capital Finance Company of Delaware Valley, Inc. v. Maureen Bell Asterbadi

02-19-08 A-0243-06T1

The opinion of the Chancery Division was published prior to
the appeal being argued and decided. Although our opinion does
not state any new principles of law, we publish because we
affirmed in part and reversed in part.
At a judicial sale, plaintiff purchased a debtor husband's
interest in a single-family dwelling previously owned by the
husband and his wife as tenants by the entirety, thereby,
converting the interests of plaintiff and wife to that of
tenants in common, as measured by the lives of the husband and
wife. After plaintiff acquired its interest in the property,
the wife remained in exclusive possession of the property and
the Chancery Division denied partition. We reviewed the
principles governing the obligation of an ousted cotenant to
account to the cotenant in possession for payments made against
a pre-existing purchase money mortgage.