Ulster County Savings Institution v. Leake
New York Court of Appeals
Appeal from order of the General Term of the Supreme Court in the third judicial department, affirming an order of Special Term in reference to distribution of surplus moneys arising on sale under a judgment of foreclosure herein. • The facts appear sufficiently in the opinion. The provision of the policy, that other insurance, without consent of the insurer, should avoid the policy, was a valid and binding element of the contract between the parties.
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Appeal from order of the General Term of the Supreme Court in the third judicial department, affirming an order of Special Term in reference to distribution of surplus moneys arising on sale under a judgment of foreclosure herein. • The facts appear sufficiently in the opinion. The provision of the policy, that other insurance, without consent of the insurer, should avoid the policy, was a valid and binding element of the contract between the parties. (Potter v. O. and L. Ins. Co., 5 Hill, 147; Egan v. W. Ins. Co., 5 Den., 326; Mullen v. H. F. Ins. Co., 17 N. Y., 609; Benedict v. Ocean Ins.…
1Opinion of the Court
Church, Ch. J.
This is a contest between the Home Insurance Company as assignee in part of the mortgage to foreclose which this action was brought, and the decree of foreclosure obtained thereon, and the owner of the equity of redemption, and the owners of incumbrances upon the equity •of redemption to surplus moneys arising upon the sale.
The insurance company had issued a policy upon the property upon the application of the plaintiff for S3,000. The plaintiff’s mortgage contained a clause requiring the mortgagor to procure an insurance for the benefit of the mortgagee, and in case of neglect…
2Cases cited4 opinions
- Kernochan v. . the New-York Bowery Fire Insurance CompanyNew York Court of Appeals · 1858
- Springfield Fire & Marine Insurance v. AllenNew York Court of Appeals · 1871
- Excelisor F. Ins. Co. v. . R. Ins. Co. of Liverp'l.New York Court of Appeals · 1873
- Waring v. . LoderNew York Court of Appeals · 1873
3Cited by17 opinions
- Fields v. Western Millers Mutual Fire Insurance Co.New York Court of Appeals · 1943
- Allen v. Watertown Fire InsuranceMassachusetts Supreme Judicial Court · 1882
- Hanover Fire Insurance v. JohnsonIndiana Court of Appeals · 1900
- Insurance Co. of North America v. MartinIndiana Supreme Court · 1898
- Gillespie v. Scottish Union & National Ins.West Virginia Supreme Court · 1906
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