Matter of People (Westchester Tit. T. Co.).
New York Court of Appeals
Constitutional provisions prohibit the Superintendent of Insurance and the Mortgage Commission from any act divesting the certificate holders of their property rights. (People ex rel. Simpson Co. v. Kempner, 154 App. Div. 674; Lord v. Equitable Life Assur. Society, 194 N. Y. 212; Wynehamer v. People, 13 N. Y. 378; Forster v. Scott, 136 N. Y. 577; Louisville Joint Stock Land Bank v. Radford, 79 L. Ed. 920; Worthen Co. v. Kavanaugh, 295 TJ. S. 56; East Tennessee V. & G. Ry.
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Constitutional provisions prohibit the Superintendent of Insurance and the Mortgage Commission from any act divesting the certificate holders of their property rights. (People ex rel. Simpson Co. v. Kempner, 154 App. Div. 674; Lord v. Equitable Life Assur. Society, 194 N. Y. 212; Wynehamer v. People, 13 N. Y. 378; Forster v. Scott, 136 N. Y. 577; Louisville Joint Stock Land Bank v. Radford, 79 L. Ed. 920; Worthen Co. v. Kavanaugh, 295 TJ. S. 56; East Tennessee V. & G. Ry. Co. v. Frasier, 139 U. S. 288; Von Hoffman v. Quincy, 4 Wall. 535; Bronson v. Kinsie, 1 How. 311; Brine v. Hartford Fire…
1Opinion of the CourtLehman, J.
The appellant purchased from West-chester Title and Trust Company in 1931 a certificate, issued as part of a series purporting to assign undivided interests in a mortgage on a six-story apartment house. The issuing company guaranteed the payment of the amount of such undivided interests. By the terms of the certificate the issuing company was “ appointed irrevocably by the assured as the agent of the assured ” to collect the interest and principal of the bond and mortgage and to perform other functions which are commonly included in the “ servicing ” of mortgages. In 1933 the Superintendent…
2Cases cited4 opinions
- Louisville Joint Stock Land Bank v. RadfordSupreme Court of the United States · 1935
- W. B. Worthen Co. v. KavanaughSupreme Court of the United States · 1935
- Matter of People (Tit. Mtge. Guar. Co.)New York Court of Appeals · 1934
- Doty v. LoveSupreme Court of the United States · 1935
3Cited by16 opinions
- Caminetti v. Pac. Mut. Life Ins. Co. of Cal.California Supreme Court · 1943
- Breen v. Mortgage CommissionNew York Court of Appeals · 1941
- Gillette v. ToddAppellate Court of Illinois · 1969
- Matter of Mtge. Com. (1175 Evergreen Ave.)New York Court of Appeals · 1936
- In Re Westover, Inc.Court of Appeals for the Second Circuit · 1936
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