National Savings Bank v. National Commercial Bank

The defendant bank, concededly a trustee in the same position as would be occupied by a distributee, contends that there can be no adjudication in this action that it is liable for a judgment of deficiency. Its position, as I understand it, is that no “ debt of the decedent ” within the contemplation of section 170 of the Decedent Estate Law can be established until there has been resort to the land and a determination made that the value of the land warrants the granting of a deficiency judgment as provided by section 1083-a of the Civil Practice Act. Plaintiff’s remedy is then to commence a…