Legal Opinion
ADHY Advisors LLC v. 530 West 152nd Street LLC
Appellate Division of the Supreme Court of the State of New York
Decided March 24, 2011PublishedCited by 5 opinions
1Opinion of the Court
Although the mortgage agreement at issue contains a provision which specifically authorizes the appointment of a receiver upon application by the mortgagee in any action to foreclose (see Real Property Law § 254 [10]), it is well settled that “[a]n action to foreclose a mortgage is an action in equity” (Jamaica Sav. Bank v M. S. Inv. Co., 274 NY 215, 219 [1937]). Thus, a court of equity, in its discretion and under appropriate circumstances, may deny such an application (see Maspeth Fed. Sav. & Loan Assn. v McGown, 77 AD3d 889, 889-890 [2010]; Clinton Capital Corp. v One Tiffany Place…
2Cases cited4 opinions
- Jamaica Savings Bank v. M. S. Investing Co.New York Court of Appeals · 1937
- Maspeth Federal Savings & Loan Ass'n v. McGownAppellate Division of the Supreme Court of the State of New York · 2010
- Clinton Capital Corp. v. One Tiffany Place Developers, Inc.Appellate Division of the Supreme Court of the State of New York · 1985
- W. I. M. Corp. v. CipuloAppellate Division of the Supreme Court of the State of New York · 1926
3Cited by5 opinions
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- Nechadim Corp. v. SimmonsAppellate Division of the Supreme Court of the State of New York · 2019
- US Bank, N.A. v. RufaiAppellate Division of the Supreme Court of the State of New York · 2022