Legal Opinion
Finest Investments v. Security Trust Co.
Appellate Division of the Supreme Court of the State of New York
Decided November 4, 1983PublishedCited by 18 opinions
1Opinion of the Court
OPINION OF THE COURT
Boomer, J.
The sole issue in these mortgage foreclosure actions concerns the order of priority of the liens of two mortgages. The mortgage first in time, now held by Scutti, was given by the mortgagor as part of the purchase price of 20 acres of land. The subsequent mortgage, now held by Finest Investments, was given to secure a loan of $150,000, $119,000 of which was expended for commitments for loans to finance the construction of a shopping center on the 20-acre parcel.
Finest Investments claims priority for the lien of its subsequent mortgage based upon the subordination…
2Cases cited3 opinions
- Albano v. KirbyNew York Court of Appeals · 1975
- York Mortgage Corp. v. Clotar Construction Corp.New York Court of Appeals · 1930
- Weaver Hardware Co. v. . SolomovitzNew York Court of Appeals · 1923
3Cited by18 opinions
- HSBC Bank USA v. Bank of New EnglandCourt of Appeals for the First Circuit · 2004
- Starr Indem. & Liab. Co. v. Brightstar Corp.District Court, S.D. Illinois · 2019
- Imation Corp. v. Koninklijke Philips Electronics N.V.Court of Appeals for the Federal Circuit · 2009
- JPMorgan Chase Bank N.A. v. Baupost Group, LLC (In Re Enron Creditors Recovery Corp.)District Court, S.D. New York · 2008
- Finest Investments v. Security Trust Co.New York Court of Appeals · 1984
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