Fisher v. Title Guarantee & Trust Co.

This action is brought by the owner of two mortgage certificates representing the entire interest in a bond secured by a $12,000 mortgage on a house and lot in Bronx county. These certificates in the usual form (see Title G. & T. Co. v. Mortgage Comm., 273 N. Y. 415, 419) were issued by the defendant Title Guarantee & Trust Company to the plaintiff’s testatrix in 1928 and were guaranteed both as to payment of principal and interest by Bond and Mortgage Guarantee Company.

The owner of the premises thereafter defaulted in the payment of interest and taxes. The complaint alleges that the…