VALLEY NATIONAL BANK VS. J. RONALD MEIER, ET AL.
A-0305-13T1
The court held that defendant's pay off of a first mortgage – assigned to him rather than discharged – merged into defendant's ownership of the burdened property and, if anything, preserved only defendant's right to reimbursement from his wife, the cotenant. Accordingly, the trial judge correctly determined that the plaintiff-bank, which foreclosed on the second mortgage, was entitled to a post-judgment order barring defendant's demand for relief from the bank on the assigned first mortgage.
