Zoning laws can foil even the best laid plans. Close to a half-century ago, a developer going by the name of New 1901 Corp. acquired a handful of acres in Polk Township, Monroe County, Pa. Eventually, New 1901 obtained subdivision approval for 16 small lots, 0.3 acres to be exact. For whatever reason, the developer elected not to proceed with that plan. And unfortunately, several years later, New 1901 lost the property as a result of its failure to pay real estate taxes, according to the Commonwealth Court opinion in Cottone v. Zoning Hearing Board of Polk Township.
The Monroe County Tax Claim Bureau managed to unload the lots to Reflection Builders, for the price of 601 bucks per lot in 2003, the opinion said. Notably, each lot was transferred by separate tax deed and separately recorded. On the surface at least, it appeared that Reflection Builders had gotten a sweetheart deal and was poised to reap a proverbial windfall. Asking 10 grand a pop, all it needed was one sale to turn a profit. At least it thought it would be that simple.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]
