Schulte v. Cleri

Judgment, Supreme Court, New York County, entered January 5, 1971, modified on the law, to eliminate provision for compound interest and to substitute therefor simple interest, and otherwise affirmed on the opinion of Judge Praiman at Trial Term, without costs and without disbursements. Section 320 of the Real Property Law provides as follows: "Certain deeds deemed mortgages. A deed conveying real property, which, by any other written instrument, appears to be intended only as a security in the nature of a mortgage, although an absolute conveyance in terms, must be considered a mortgage; and…