Barry Corrado & Grassi is spearheading a lawsuit filed in New Jersey that challenges a law allowing foreclosures on properties far exceeding the value of delinquent taxes. The plaintiffs cite a recent Supreme Court decision against similar practices and argue for its retroactive application, impacting both past and future cases. Their goal is not reclaiming property, but receiving compensation for the equity lost in excessive foreclosures. This legal challenge adds pressure to policymakers, who have already proposed legislation addressing the issue, to reform the state’s tax sale law.
Lawsuit challenges New Jersey tax sales after U.S. Supreme Court ruling
