Sabelo Realty Corp. v. Operators Mortgagee Corp.

This is an application made pursuant to the provisions of section 275 of the Beal Property Law. Two mortgages covering the property owned by the corporation were made to one Argereos Lambros and by mesne assignments were acquired by the respondent. The mortgages matured on March 4, 1962. Title to the mortgaged premises was taken by the corporation, and the interest therein is equally held by two persons, one of whom makes this application. Her authority to do so is challenged by the other party in interest, who, upon argument of this motion, and upon the movant’s consent, was granted leave to…