East River Savings Bank v. 245 Broadway Corp.

This is an application by the individual defendants to dismiss the complaint so far as it seeks to hold them liable as .individuals. The action is one of foreclosure of mortgage upon premises held by the individual defendants as trustees of an estate. The mortgage was originally executed by a corporation in 1924. The defendants, as trustees under a deed of trust, acquired the property subject to the mortgage of $250,000, executed by the original mortgagor, and in 1928 they executed a bond in the sum of $30,000, as trustees of the estate, together with a mortgage upon the premises upon which…