Continued proper development of land in Lakewood Township is "beneficial," the Township Committee has decided. So much so, that if there is difficulty selling land because records indicate that the municipality may actually own the land, the Township Committee will come to the rescue in enabling the sale of the land - at no cost.
As previously reported here on FAA News, Yeshivas Meor Hatalmud has recently entered into a contract to purchase over 5 acres of land at 1245-1249 Ridge Avenue, near New Hampshire Avenue.
However, one of the lots under this contract does not have a clear title, as it may actually be owned by the municipality.
Luckily, Lakewood's Township Committee is coming to the rescue.
Yeshivas Meor Hatalmud is registered at the Raintree home of Rav Noach Witty.
The contract sale land is split across 4 lots as depicted in the map shown below.
The seller is the Violet Theibault Irrevocable Trust. They have claimed to own all 4 lots for many generations, and they have paid taxes on the parcel at least since 2007.
However, the Township's tax records for Block 190, Lot 64 shows an unknown owner for this lot. Thus, the Township may actually own the lot.
This parcel has the dimensions of 30 feet x 393 feet and 10 feet by 395 feet in a generally triangular shape. The assessed value is $18,800.
In order for the sale to the developers of the yeshiva to proceed, the Theibault family has requested that the Township provide a quitclaim deed, surrendering any rights the municipality may have on this parcel.
The Township Committee has agreed to come to the rescue, inasmuch as the Theibault family has claimed an ownership interest in the parcel and paid taxes for a significant period of time.
Importantly, the Township Committee has determined that relinquishing any rights that the Township may have to this lot would be "beneficial to the continued proper development of land in the municipality."
Therefore, the Committee is set today to grant a quit claim deed to eliminate any cloud on title that may be occasioned by the municipality!
This favor will be given for no consideration ($0).
Delivery of the Quitclaim Deed shall take place within approximately 30 days. It shall be the responsibility of the Theibault family to pay all costs and expenses incurred by both the Township and itself relating to the sale, transfer, and exchange of the property.
Additionally, the Committee is set to authorize the Mayor or Deputy Mayor to execute, and the Township Clerk to attest to, any and all documentation that may be necessary to grant a temporary easement on the aforementioned property.
Public records indicate that the total annual property taxes in 2022 for the 4 lots respectively were, $429.01, $8,564.35, $9,454.33, and $17,384.27, for a total of $35,831.96.
No Site Plan for the future of this parcel has yet been submitted to the Township.
The yeshiva is represented in this purchase by Attorney Yisrael Karas, Esq., General Counsel to Madison Title Agency.
This parcel is across the street from where a developer wheeled and dealed an agreement with Yeshiva Ruach Hatorah to use their name to submit an application for high density housing via the Township's loophole "Planned Educational Campus" ordinance. Read more about the stalled Yeshiva Lane application here on FAA News.
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