Fairview-Chase Corp. v. Scharf

On August 1, 1925, the plaintiff’s assignor, Charles Steiner, leased ocean-front property at Rockaway Beach from Alice C. McCoy, for a term of twenty-one years. In the lease the property is described as having a depth of “ 486 feet to the high-water mark of the Atlantic Ocean * * *. Subject to encroachments by the Atlantic Ocean. Subject also to state of facts an accurate survey would show, unless the title is made unmarketable thereby * * At the time of the execution of the lease, Steiner deposited $20,000 with the defendant Scharf, who was the landlord’s attorney. Scharf executed a receipt…