In re the Liquidation of New York Title & Mortgage Co.

Heretofore the petitioners moved for an adjudication that all of the moneys received by the New York Title and Mortgage Company under assignments of rents of properties covered by mortgages of this series were received in trust for the benefit of the certificate holders herein and/or their representatives. This motion was granted (Matter of New York Title & Mortgage Company [Series F-1], 162 Misc. 117), this court being of the opinion that the title company was under an implied obligation to require the owners of the mortgaged properties to pay taxes, assessments, water rates, etc., and thus…