Heiman v. Bishop

After a sale on foreclosure, appellant made a motion for a deficiency judgment under section 1083-a of the Civil Practice Act. The matter was referred to an official referee who reported that at the date of the foreclosure sale on June 16, 1935, there existed “ no fair and reasonable market value of the mortgaged premises,” that the nearest date when there was such market value was in 1930, at which time the market value of the property was more than the amount of the mortgage. The motion for a deficiency judgment was, therefore, denied.

Prior to the emergency legislation embodied in section…