CRE Insider Blog
Welcome to the Commercial Real Estate Insider, insights from First American's real estate experts.

Statute Of Limitations And A Mortgagee In Possession

By Mike Berey on March 3, 2022

For a foreclosure commenced in 2010 the Plaintiff elected to call due to the entire amount secured by the mortgage. That action was dismissed in 2012. In 2016, Plaintiff brought an action under New York’s Real Property Actions and Proceedings Law Article 15 (“Action to compel the determination of a claim to real property”) to have the mortgage...

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Topics: Mortgages statue of limitations

Religious Corporations Not Authorized To Mortgage

By Mike Berey on June 12, 2019

 

 

A church in East Harlem filed a petition seeking court approval for a mortgage on its house of worship, which was its sole asset, under Not-for-Profit Corporation Law Sections 510 (“Disposition of all or substantially all assets”) and 511 (“Petition for court approval”) and Religious Corporations Law (“RCL”) Section 12 (“Sale, mortgage and...

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Topics: Mortgages New York Mortgage Tax

Deed Forged: Subsequent Deeds And Mortgages Set Aside

By Mike Berey on June 7, 2017

 

A deed to property in Queens County, New York, was purportedly executed in 2005 by Diana Deramo and Nicholas Deramo, the record owners. The property was re-conveyed twice, and it was mortgaged. However, Nicholas had died in 2003 and Diana alleged that her signature was also forged. Diana, individually and as the proposed executrix of the Estate...

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Topics: Mortgages Subsequent Deeds

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