Deutsche Bank National Trust Co. v. Johnson, Kings County Supreme Court, Index 24867/2011
Standing continues to trip-up foreclosing lenders. In this residential mortgage foreclosure case, a pro se defendant successfully cross-moved for summary judgment dismissing a mortgage foreclosure complaint based
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Bankruptcy filing triggers full recourse guaranty liability
By Howard Koh
172 Madison (NY) LLC v. NMP-Group, LLC, New York County Supreme Court Index No 650087/2010
Springing non-recourse carve-out guaranties are a standard feature of many commercial mortgage loans. Under such arrangements, the lender generally agrees to look only to the…
Second Department reverses award of sanctions against lender
By Howard Koh
Bank of America v. Lucido, Appellate Division, Second Department, Index No. 3769/2009
The Second Department has reversed Justice Jeffrey Spinner’s award of sanctions in a residential mortgage foreclosure case after a settlement conference failed to produce a settlement. The sanction…
Mortgage foreclosure settlement conference not required where mortgage was given as collateral for a commercial loan
By Howard Koh
Independence Bank v. Valentine, Appellate Division, Second Department 08136/2012
Must a CPLR 3408 settlement conference be conducted in an action to foreclose a mortgage on a primary residence where the mortgage collateralizes a personal guaranty of a commercial loan? The…
Tenant prevails on lease interpretation issue
By Howard Koh
34th Street Penn Association, LLC v. Payless Shoesource, Inc., New York County Landlord-Tenant Index No. 075998/2012
This commercial landlord-tenant case involved a straight-forward issue of contract interpretation. The tenant, a retailer, was, allegedly, concerned about leasing space in a building…
Hearing ordered on whether notice of a co-op non-judicial foreclosure was valid
By Howard Koh
Waithe v. Citigroup, Inc., Kings County Supreme Court, Index No. 24434/2012
As most real estate lawyers understand, co-0p owners do not own real estate. They own stock in a cooperative apartment corporation and an appurtenant proprietary lease. Therefore a co-op…
Seller did not need to demonstrate it was ready, willing, and able to close to recover contract deposit
By Howard Koh
Princess Point L.L.C. v. AKRF Eng’g, P.C., New York County Supreme Court Index No. 601849/2008
In this Commercial Division case, Justice Charles Ramos ruled that a seller was not required to demonstrate that it was ready, willing, and able…
First Department permits attorneys’ fees by 3-2 vote
By Howard Koh
Graham Court Owner’s Corp. v. Taylor, Appellate DivisionFirst Department 70520/2010
In a 3-2 decision, the First Department has endorsed a broad reading of Real Property Law § 234. That statute provides for an implied reciprocal right of a residential tenant to recover…
Landlord’s claim of chronic rent delinquency dismissed
By Howard Koh
Mins Court Housing Co., Inc. v. Wright, Bronx County L&T Index No. 013224/2013
In this residential holdover proceeding, the landlord alleged chronic delinquent rent payments and, on that basis, purported to terminate the tenant’s lease. The Petition claimed that over…
Tenant’s laches defense prevails
By Howard Koh
383 Realty Corp. v. Young, New York County Landlord Tenant Court Index NO. 89487/2011
In this residential landlord-tenant case the tenant was able to prevail on a laches defense where the landlord did not commence a summary nonpayment proceeding for 42…