New Jersey presently has the highest foreclosure rate in the United States. It was only a matter of time before foreclosure law and tort law would collide in the courts.
In a recent unreported decision, the Appellate Division considered whether Bank of America was responsible for personal injuries suffered by a pedestrian slipping on ice and snow while walking on the sidewalk in front of an apartment building mortgaged to the bank. At the time of the incident, the building was vacant, and the bank had obtained a final foreclosure judgment, but no sheriffs sale had taken place. Thus Bank of America was not yet the owner of the property.