Blancob Construction Corp. v. 246 Beaumont Equity, Inc.

This is an action to foreclose a real estate mortgage on an apartment building. The mortgage purportedly contained a standard “ after-acquired ” property clause, and the plaintiffs (mortgagees) claim priority over the assignee of a conditional sale contract covering a heating boiler, oil burner and oil storage tank installed by the conditional vendor after the execution and delivery of the mortgage. The plaintiffs moved at Special Term to strike the answer of the assignee as a defendant and for summary judgment. Special Term denied the motion, noting that the conditional sale contract was…