Legal Opinion
Nassau Trust Co. v. Montrose Concrete Products Corp.
New York Court of Appeals
Decided May 13, 1982PublishedCited by 400 opinions
1Opinion of the Court
OPINION OF THE COURT
Meyer, J.
In a foreclosure action based upon nonpayment, the mortgagee’s oral waiver of the right to accelerate the principal and foreclose in order to give the delinquent mortgagor a reasonable opportunity to negotiate an unforced sale of the mortgaged premises constitutes a valid affirmative defense to foreclosure, absent withdrawal of the waiver upon reasonable notice to the mortgagor. Accordingly, because the pleadings and affidavits in this foreclosure action create a triable issue of fact concerning waiver by plaintiff mortgagee and present nothing other than the…
2Cases cited21 opinions
- Rose v. Spa Realty AssociatesNew York Court of Appeals · 1977
- Curry v. MacKenzieNew York Court of Appeals · 1925
- Rothschild v. . Title Guarantee Trust Co.New York Court of Appeals · 1912
- Metropolitan Life Ins. Co. v. . Childs Co.New York Court of Appeals · 1921
- Lynn v. LynnNew York Court of Appeals · 1951
16 more not listed; retrieve them via the Exa API.
3Cited by400 opinions
- Fundamental Portfolio Advisors, Inc. v. Tocqueville Asset Management, L.P.New York Court of Appeals · 2006
- MTR. OF SHONDEL J. v. Mark D.New York Court of Appeals · 2006
- Readco, Inc., R.D.P. Associates, Lan Associates Xii and Antonio Reale v. Marine Midland Bank Eagle Rock Holding, Inc., a New York Corp.Court of Appeals for the Second Circuit · 1996
- James W. Bonar and Beverly J. Bonar v. Dean Witter Reynolds, Inc., John S. Mc Nally, Jr., Ed LeavenworthCourt of Appeals for the Eleventh Circuit · 1988
- R.B. Ventures, Ltd. v. ShaneCourt of Appeals for the Second Circuit · 1997
395 more not listed; retrieve them via the Exa API.