American-Italian Building & Loan Ass'n v. Liotta

The opinion of the court was delivered by

Perskie, J.

By concession, the basic question requiring decision, in this cause, is whether the failure to join a tenant, here a monthly tenant, as a party defendant to a foreclosure suit, and the barring of his interest, constituted a valid defense to a suit thereafter instituted by the mortgagee against the mortgagors on the bond of the latter, and which bond was secured by the mortgage so foreclosed, for the resultant deficiency arising from the foreclosure of the mortgaged premises.

The facts are not in dispute. Respondents, who were defendants…