Elsworth v. Woolsey
Appellate Division of the Supreme Court of the State of New York
Appeal by the claimant, George B. Lanck, from an order of the Supreme Court, made at the ¡New York Special Term aud entered in the office of the clerk of the county of New York on the 7th day of April, 1897, overruling his exceptions to the report of a referee appointed to ascertain the liens upon the surplus money in the action and confirming said report.
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Appeal by the claimant, George B. Lanck, from an order of the Supreme Court, made at the ¡New York Special Term aud entered in the office of the clerk of the county of New York on the 7th day of April, 1897, overruling his exceptions to the report of a referee appointed to ascertain the liens upon the surplus money in the action and confirming said report. This was a proceeding to ascertain liens upon surplus money realized upon the sale under foreclosure of a mortgage upon premises in the city of New York, which sale occurred on July 8, 1895, and upon which a surplus was realized amounting…
1Opinion of the Court
O’Brien, J.:
On the day of salé under the first inortgage from which the- surplus arose, the time for redemption by Woolsey had not expired, nor ' had the time for the second mortgagee, Cotterill, to redeem.arrived. ■ The effect of the sale was to transfer the title to a stranger, and to suspend the rights and remedies of the second mortgagee-and of the *387person holding the certificate of sale from the sheriff as against the property, and such conld only he enforced, therefore, as against any surplus that might arise. On and after the sale it would have heen useless for the second mortgagee to…
2Cited by4 opinions
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- Treacy v. EllisAppellate Division of the Supreme Court of the State of New York · 1899
- Hulbert v. HulbertNew York Supreme Court · 1914
- Bennett v. FishNew York Supreme Court · 1956