College Point Savings Bank v. Bonfiglio

This is an application by the assignee of a purchaser at a foreclosure sale asking that it be relieved of the bid made at such sale upon the grounds:

1. That the Referee cannot deliver a good, marketable title.

2. That since the date of sale a material part of the premises has been destroyed by vandalism.

Alternatively it seeks an abatement in the purchase price to the extent of the destruction. (Real Property Law, § 240-a.)

A title search reveals that in 1933 a deed from Development Home Sites, Inc., to Edmund McMahon contained the following *972reservation: “ subject, further to the right reserved…