Schultz v. Mead
New York Supreme Court
Appeal from special term, Kings county. Action by Harmon G. Schultz against George W. Mead to enforce a deficiency judgment rendered against defendant, and in favor of William Cole, who assigned it to plaintiff. The judgment was rendered after foreclosure of a mortgage against defendant, and the sale of his property thereunder. Cole, the foreclosure plaintiff, purchased the property at the foreclosure sale. Code Civil Proc. ÍT.
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Appeal from special term, Kings county. Action by Harmon G. Schultz against George W. Mead to enforce a deficiency judgment rendered against defendant, and in favor of William Cole, who assigned it to plaintiff. The judgment was rendered after foreclosure of a mortgage against defendant, and the sale of his property thereunder. Cole, the foreclosure plaintiff, purchased the property at the foreclosure sale. Code Civil Proc. ÍT. Y. § 1628, prohibits an action to recover any part of a mortgage debt, after final judgment for plaintiff in foreclosure, without leave of the court in which the…
1Opinion of the CourtPratt, J.
The principle laid down in the case of Mead v. Spink, 1 N. Y. Supp. 390, is decisive of this case. This case does not fall within section 1628 of Code of Civil Procedure, as that section has reference to the original debt the mortgage was given to secure. One purpose of the section is to prevent more than one suit, and one bill of costs, upon the bond of original indebted*664ness. The defendant is concluded by the deficiency, and the plaintiff had the right to sue upon that judgment. The judgment became a new obligation upon its being docketed; and the fact that plaintiff’s assignor made a profit…
2Cases cited1 opinion
- Mead v. SpinkNew York Supreme Court · 1888
3Cited by5 opinions
- Union Guardian Trust Co. v. RoodMichigan Supreme Court · 1944
- In re Ganet Realty Corp.District Court, S.D. New York · 1935
- Fernschild v. Yuengling Brewing Co.Appellate Terms of the Supreme Court of New York · 1896
- United States-Life Insurance v. GageNew York Supreme Court · 1890
- Fernschild v. D. G. Yuengling Brewing Co.Appellate Division of the Supreme Court of the State of New York · 1896