Legal Opinion
Sanders v. Palmer
New York Court of Appeals
Decided October 16, 1986PublishedCited by 32 opinions
1Opinion of the Court
OPINION OF THE COURT
Meyer, J.
When a single debt is secured by a mortgage of property of the corporate debtor and by a mortgage of the separate property of an individual guarantor, the failure to obtain a deficiency judgment after the sale of the corporate debtor’s *182property in a foreclosure action in which the guarantor is a party defendant bars further action to foreclose the guarantor’s mortgage or on the guarantee (RPAPL 1371 [3]). The order of the Appellate Division should, therefore, be affirmed, with cost.
I
Plaintiffs loaned $35,000 to Journey’s End Construction Corporation and received…
2Cases cited20 opinions
- Gelfert v. National City Bank of NYSupreme Court of the United States · 1941
- Vanderbilt v. . SchreyerNew York Court of Appeals · 1883
- Jamaica Savings Bank v. M. S. Investing Co.New York Court of Appeals · 1937
- Klinke v. SamuelsNew York Court of Appeals · 1934
- Honeyman v. HananNew York Court of Appeals · 1937
15 more not listed; retrieve them via the Exa API.
3Cited by32 opinions
- Marine Midland Bank v. Landsdowne Management Associates, Inc.Appellate Division of the Supreme Court of the State of New York · 1993
- In re CovelliUnited States Bankruptcy Court, S.D. New York · 2016
- Security Pacific Mortgage & Real Estate Services, Inc. v. Herald Center Ltd.District Court, S.D. New York · 1990
- Rainbow Venture Associates v. Parc Vendome Associates, Ltd.Appellate Division of the Supreme Court of the State of New York · 1995
- Crossland Savings, FSB v. PattonAppellate Division of the Supreme Court of the State of New York · 1992
27 more not listed; retrieve them via the Exa API.