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Monday, September 15, 2014

Tahir Zaman v. Barbara Felton (A-60-12; 072128)

Tahir Zaman v. Barbara Felton (A-60-12; 072128) 
The Court affirms the jury’s determination that Felton knowingly sold her property to Zaman. It reverses the portion of the Appellate Division’s opinion that affirmed the trial court’s dismissal of Felton’s claim that the parties’ agreements gave rise to an equitable mortgage. The Court remands to the trial court for application of the eight-factor standard for the determination of an equitable mortgage set forth by the United States Bankruptcy Court in O’Brien v. Cleveland, 423 B.R. 477, 491 (Bankr. D.N.J. 2010) and, in the event that the trial court concludes that an equitable mortgage was created by the parties, for the adjudication of two of Felton’s statutory claims based on alleged violations of consumer lending laws, as well as several other claims not adjudicated by the trial court. The Court concurs with the trial court and Appellate Division that Felton has no claim under the Consumer Fraud Act, that this case does not implicate In re Opinion No. 26, and that Felton’s remaining claims were properly dismissed.