Oldfield v. Stoeco Homes, Inc.

26 N.J. 246, 139 A.2d 291 (1958)

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Nature of the Case

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Facts

In an effort to further development, Ocean City sold several tracts of swampland at auction. Stoeco (D) was the only bidder on these tracts and was therefore able to purchase them. The deed granted with respect to some of the land required them to fill the lots within one year of the date of the deed, or the land would revert to the city. This requirement placed an unanticipated financial burden on D, and they did not comply with the requirement on time. Rather than retaking the land, the city extended the time for compliance several times. Residents of the city (P) filed suit to prevent the city from granting further extensions of time, and to have D forfeit the land and return it to the city. The lower court found that D's estate in the land was a fee simple subject to condition subsequent, and granted judgment in their favor. P appealed, arguing that the deed created a fee simple determinable. Before there was a hearing in the Appellate Division, the Supreme Court certified the cause on its own motion.