Chase v. Harvey

The Special Term has denied the usual application (Civ. Prac. Act, § 1083-a) for a deficiency judgment on the foreclosure of a mortgage dated after July 1, 1932, stating, “ we still insist the court has power over all deficiency judgments.” The question here presented is not an open one.

It is stated in the opinion in Monaghan v. May (242 App. Div. 64): “ The refusal to allow, without the statutory limitation, the entry of a deficiency judgment may not, therefore, be justified by the statute. It must be sustained, if at all, under the inherent power of a court of equity. The Legislature has…