Credit: zimmytws/stock.adobe.com Foreclosure Title: Subject to Senior Mortgage?
Jason Bergman advises parties on how the failure to specifically identify an encumbrance that is senior to the foreclosed mortgage can be fatal to the foreclosure sale.
November 17, 2023 at 10:00 AM
5 minute read
A reflexive answer to the question of the title seems apparent of course. But the actual question needs the context of a second inquiry: how specific were the terms of sale in referring to the senior mortgage? Both foreclosing plaintiffs and foreclosure sale bidders need to know the answer to that question—which is "specific," as meaningfully articulated by the Appellate Division in Wells Fargo Bank, N.A. v. Schepisi, 218 A.D.3d 829, 194 N.Y.S.3d 252 (2d Dept. 2023).
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