Fleetwood Acres, Inc. v. National Life Insurance

This is a proceeding pursuant to sections 275 and 333-b of the Eeal Property Law to compel an assignment of a mortgage.. There is no dispute as to the facts. The issues are solely those of law.

The facts are briefly as follows:

On November 21,1938, the parties hereto entered into a building and loan agreement with the Federal Housing Adminis*301trator wherein, among other things, they subjected themselves to the rules and regulations of said administrator.

On the same day, the parties executed a mortgage on Fleet-wood Acres in the sum of $800,000 and incorporated in the mortgage the terms and…