Mutual Life Insurance v. Balch
New York Supreme Court
Motion by plaintiff to compel purchaser at a foreclosure sale to complete his purchase. The action was brought by the Mutual Life Insurance Company of New York, against Ebenezer H. Balch and others, to foreclosure a mortgage on premises in the city of New York.
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Motion by plaintiff to compel purchaser at a foreclosure sale to complete his purchase. The action was brought by the Mutual Life Insurance Company of New York, against Ebenezer H. Balch and others, to foreclosure a mortgage on premises in the city of New York. This motion was made to compel the purchaser at a foreclosure sale or his assignee to complete his purchase, or in default thereof that the referee might resell at the loss and expense of the purchaser after applying the amount of his deposit towards such loss and expense, and for further relief. This sale was made by a referee under…
1Opinion of the CourtBarrett, J.
It was undoubtedly laid down in McLaren v. Hartford Fire Ins. Co. (5 N. Y. 151), that from the time of a referee’s sale in foreclosure, the property is at the risk of the purchaser.
This decision has been much. criticised. The cases cited by Gardiner, J., do not establish the proposition for which he contends (see the remarks of Peckham, J., in Cheney v. Woodruff, 45 N. Y. 100), while Fuller v. Van Geesen (4 Hill, 173), on which Foot, J., relies, simply holds that the deed executed by a master passes the title at the moment of delivery. Cheney v. Woodruff, ubi sup., is direct authority for the…
2Cases cited6 opinions
- Cheney v. . WoodruffNew York Court of Appeals · 1871
- Mitchell v. . BartlettNew York Court of Appeals · 1873
- Wood v. . the North Western Ins. Co.New York Court of Appeals · 1871
- McKechnie v. SterlingNew York Supreme Court · 1867
- McLaren v. . the Hartford Fire Ins. Co.New York Court of Appeals · 1851
1 more not listed; retrieve them via the Exa API.
3Cited by1 opinion
- Goldman v. RosenbergNew York Court of Appeals · 1889