Legal Opinion
Trefoil Capital Corp. v. Creed Taylor, Inc.
New York Supreme Court
Decided July 27, 1984PublishedCited by 3 opinions
1Opinion of the Court
OPINION OF THE COURT
Martin Evans, J.
In this mortgage foreclosure action, CMNY Capital Company, the defendant second mortgagee, seeks to prevent the payment of real estate transfer and gains taxes from the proceeds of the court-ordered sale. In the alternative, it seeks a new auction of the mortgaged premises. Trefoil Capital Company, the first mortgagee, and Penn Jackson Corp., the assignee of the successful purchaser, oppose CMNY’s motion.
At issue is a question of first impression: Who among the remaining parties must pay the newly enacted taxes where the prior owner, who, as a seller, would…
2Cases cited6 opinions
- Wesselman v. Engel Co.New York Court of Appeals · 1955
- Crisona v. MacalusoAppellate Division of the Supreme Court of the State of New York · 1969
- Rikoon v. Two Boro Dress, Inc.New York Supreme Court · 1957
- Hammerman v. FergusonAppellate Division of the Supreme Court of the State of New York · 1975
- Hammerman v. FergusonNew York Court of Appeals · 1976
1 more not listed; retrieve them via the Exa API.
3Cited by3 opinions
- Trefoil Capital Corp. v. Creed Taylor, Inc.Appellate Division of the Supreme Court of the State of New York · 1986
- U.S. Bank, N.A. v. PersaudNew York Supreme Court · 2010
- HSBC Bank USA, N.A. v. RosaAppellate Division of the Supreme Court of the State of New York · 2026