Buffalo Savings Bank v. Siger, Inc.

Memorandum: Mrs. Coffer was a vendee in possession under a contract executed with Collen Enterprises, Inc. When Collen subsequently executed a deed of the premises to Siger, Inc., and Siger executed a mortgage thereof to Buffalo Savings, the interests of both Siger and Buffalo Savings were subject to the right of the vendee to receive legal title upon compliance with the purchase contract, (Phelan v. Brady, 119 N. Y. 587.) The deed from Collen to Siger was not entirely a nullity however; it conveyed the interest which Collen still had in the land (Real Property Law, § 245) in the form of a…