News & Analysis as of September 19, 2024

Mortgages › CPLR

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The term "mortgage" typically refers to a mortgage loan. A mortgage loan is a financing instrument where an individual or business borrows money to purchase property (usually real property) and... more +

Stay Just a Little Bit Longer: Not Jackson Browne but the Statute of Limitations

Cadwalader, Wickersham & Taft LLP on 7/31/2024

The Second Department recently held in Trento 67, LLC v. OneWest Bank, N.A., et. al that the FHA COVID-19 moratorium constituted a stay of foreclosures for federally-backed mortgages, and thus tolled the statute of...more

Ex Parte Appointment of a Receiver Confirmed

Cadwalader, Wickersham & Taft LLP on 4/3/2024

The New York County Supreme Court recently held that in the event of foreclosure, a receiver can be appointed, regardless of necessity, when the parties have contracted for such appointment. 24 West 57 APF LLC (“Defendant”)...more

Second Department Dismisses Action for Specific Performance Because Contractual Conditions Were Not Satisfied

Freiberger Haber LLP on 12/7/2023

Many times, remedies for the breach of a contract other than monetary damages are necessary to make a plaintiff whole...more

Fraud Notes: Duplication, Failure to Identify Misrepresentations of Fact, and Fraudulent Concealment

Freiberger Haber LLP on 8/28/2023

On August 23, 2023, the Appellate Division, Second Department issued two decisions that briefly touched upon fraud causes of action: Hershman v. Bank of N.Y. Mellon, 2023 N.Y. Slip Op. 04369 (2d Dept. Aug. 22, 2023) (here),...more

CPLR 205(a) Can Only Be Invoked by the Original Plaintiff if Plaintiff Is Still Alive

Rivkin Radler LLP on 7/12/2022

CPLR 205(a) is a well-known safety net in New York litigation, generally providing that a timely commenced action dismissed without prejudice can be refiled by “the plaintiff” within six months of dismissal, despite the...more

New York Appellate Court Reaffirms Avenue For Lenders To Revive Dismissed Cases Following Expiration of Statute of Limitations

Locke Lord LLP on 2/17/2017

As we get further away from the financial crisis of 2008, the statute of limitations has become a much more asserted and examined defense in mortgage foreclosure actions. Last week, New York’s Appellate Division, Second...more

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