Bruce J. Bergman Nominal Sale Bid – The Court Stumbles (Partly)
In a continuation of his discussion on the efficacy of a plaintiff's nominal bid at a foreclosure sale, Bruce Bergman takes issue with the Third Department in its ruling in 'Wilmington Savings Fund Society FSB v. Oppitz.'
April 30, 2024 at 10:00 AM
6 minute read
It has been previously discussed in these pages that the nominal bid of a foreclosing plaintiff at a mortgage foreclosure sale is valid, not objectionable and, short of combination with other factors such as fraud or collusion, unassailable. [See "Bidding a Nominal Sum at a Foreclosure Sale, NYLJ, June 13, 2023, at 4, col. 2, reviewing Bank of New York Mellon Trust Co., N.A. v. Gambino, 202 A.D.3d 756 (2d Dept. 2023).]
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