Lennar Northeast Partners Ltd. Partnership v. Gifaldi

OPINION OF THE COURT

Andrew V. Siracuse, J.

The Real Property Actions and Proceedings Law requires that deficiency judgments be made “within ninety days after the date of the consummation of the [foreclosure] sale by delivery of the proper deed of conveyance to the purchaser” (RPAPL 1371 [2]). In the present case the foreclosure sale took place on November 13, 1996. The mortgagee, Lennar Northeast, was the successful bidder at the sale, but it sought another purchaser for the property. Since there were large municipal tax liens burdening the property (a sizable industrial/ office building),…