| Author |
New Jersey. Circuit Court (Monmouth County |
| Title |
Equity records, 1851-1902 |
| Physical Details |
3.5 cubic feet |
Forms part of the repository's County Clerk's Office subgroup. New Jersey county circuit
courts abolished in 1948. Circuit court records, arranged alphabetically by last name of defendant,
including chancery reports, subpoenas, appeals, foreclosure and sheriff sale notices and reports,
and names of plaintiffs and defendants, reflecting law suits brought to the court "in equity" for unpaid
mortgage loans. Proceedings were initiated by the mortgagee (party holding the loan) against the mortgagor
(party borrowing the money). Failure by the defendant (mortgagor), to satisfy the claim resulted in foreclosure
and sheriff sale of the mortgaged premises.
Transferred to the repository by Jane G. Clayton, Monmouth County Clerk. Finding aid in the repository.
| OTHER AUTHORS: |
Monmouth County (N.J.). County Clerk |
| SUBJECTS: |
County courts--New Jersey |
| Equity--New Jersey--Monmouth County |
| Real property--New Jersey--Monmouth County |
| Foreclosure--New Jersey--Monmouth County |
| Mortgages--New Jersey--Monmouth County |
| GENRE OR FORM: |
Court records--New Jersey--Monmouth County |
| RECORD GROUP |
Coun2300.3 |
| SUBGROUP |
County Clerk's Office |
| SERIES |
Circuit Court |
| SUBSERIES |
Equity |
| DATES |
1851-1902 |
| VOLUME |
3.5 cubic feet |
I. LEGISLATIVE HISTORY
Equity refers to "the value of property minus liens or other encumbrances." In other words, one's equity in a property that is mortgaged is the value of the property less the amount of the mortgage owed.
In the twentieth century, most mortgages are held by banks, but in the equity case files of the late nineteenth century held by the Monmouth County Archives, most mortgages were held by individuals. The law enabled a mortgagee (party holding the loan) to redeem his or her property after the mortgagor (party borrowing the money) defaults on payment. Suits "in equity" were filed by the mortgagee (plaintiff) against the mortgagor (defendant) in Circuit Court. If the defendant failed to satisfy the claim, the results would be foreclosure. The sheriff would then sell the mortgaged premises to satisfy the debt.
II. SCOPE AND CONTENT
The Equity series (1851 - 1902), a subseries of the Circuit Court record group, is arranged alphabetically by the last name of the defendant. Documentation in equity cases includes Master of Chancery reports, subpoenas, appeals, foreclosure notices, sheriff sale notices, final sheriff reports of the sale of the mortgaged premises and other types of records.
Genealogical information can be gleaned from the names of plaintiffs, defendants, and heirs of deceased plaintiffs and defendants. The records document why and how certain properties in Monmouth County changed title.
April 1996