Legal Opinion
Ezriel Equities Associates L.P. v. 157 East 72nd Street Associates
Appellate Division of the Supreme Court of the State of New York
Decided March 7, 1996PublishedCited by 2 opinions
1Opinion of the Court
*327The IAS Court properly directed the receiver to apply rental proceeds first to the payment of common charges during the pendency of the foreclosure. Plaintiff relies on Real Property Law § 339-z, which provides in relevant part, that "[t]he board of managers, on behalf of the unit owners, shall have a lien on each unit for the unpaid common charges thereof * * * prior to all other liens except * * * all sums unpaid on a first mortgage of record”. It is true that in Bankers Trust Co. v Board of Mgrs. (81 NY2d 1033, 1036), the Court of Appeals held that by the "plain language and meaning” of…
2Cases cited3 opinions
- Bankers Trust Co. v. Board of Managers of the Park 900 CondominiumNew York Court of Appeals · 1993
- First New York Bank for Business v. 155 E. 34 Realty Co.New York Supreme Court · 1993
- Gomez v. BobkerAppellate Division of the Supreme Court of the State of New York · 1986
3Cited by2 opinions
- WOODVIEW CONDO. ASS'N, INC. v. ShanahanNew Jersey Superior Court Appellate Division · 2007
- Resolution Trust Corp. v. J.I. Sopher & Co.District Court, S.D. New York · 1996