Bankers Trust Co. of California, N.A. v. Wen Zhou

There were no defects in the notice of sale, which, in compliance with a prior order, notified bidders of the existence of a prior mortgage that plaintiff believed had been satisfied and the fact that the title company would indemnify a purchaser against any risk with respect thereto. Plaintiffs advertising of its lien as a first mortgage, coupled with the indemnification letter from the title company, sufficiently established that the lack of a properly filed satisfaction of the prior mortgage did not render title unmarketable (cf. Lovell v Jimal Holding Corp., 127 AD2d 747 [1987]). The…