Wyckoff v. Devlin
New York Court of Common Pleas
Appeal from a judgment of the General Term of the Marine Court of the city of New York affirming a judgment of that court entered upon the decision of a justice upon a trial by the court without a jury. ■ Prior to April 14th, 1881, the New York Life Insurance Company had a mortgage upon certain premises owned by the defendant, and the plaintiff having become liable as indorser upon certain promissory notes of the defendant, the latter made mortgages to secure the plaintiff…
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Appeal from a judgment of the General Term of the Marine Court of the city of New York affirming a judgment of that court entered upon the decision of a justice upon a trial by the court without a jury. ■ Prior to April 14th, 1881, the New York Life Insurance Company had a mortgage upon certain premises owned by the defendant, and the plaintiff having become liable as indorser upon certain promissory notes of the defendant, the latter made mortgages to secure the plaintiff upon the same premises upon which the New York Life Insurance Company held such prior mortgage. The defendant did not pay…
1Opinion of the CourtVan Brunt, J.
[After stating the facts as above.]— It is undoubtedly true that the surplus moneys were, as between the parties, real estate, and were to be distributed as such, and that the position of the plaintiff in respect thereto was that of mortgagee.
But the position and claim of the defendant, that the filing of a notice of claim by the plaintiff herein was in legal effect the commencement of a foreclosure suit against the mortgaged premises, cannot be sustained. The plaintiff had lost his lien of record by reason of the foreclosure of the prior mortgage and sale of the premises mortgaged, and for…
2Cases cited1 opinion
- Equitable Life Insurance Society of United States v. StevensNew York Court of Appeals · 1875
3Cited by3 opinions
- Central Trust Co. v. DannNew York Court of Appeals · 1995
- Stein v. BlatteNew York Supreme Court · 1983
- Ralph Klonick Corp. v. HaasNew York Supreme Court · 1930