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CHEM. BANK v. NAT'L UNION FIRE INS. CO. OF PITTSBURGH, PENNSYLVANIA

74 A.D.2d 786 (1980)

Chemical Bank, Plaintiff, v. National Union Fire Insurance Company of Pittsburgh, Pennsylvania, Defendant and Third-Party Plaintiff-Respondent. George Hyam et al., Third-Party Defendants; Joseph J. Blake and Associates, Inc., Third-Party Defendant-Appellant

Appellate Division of the Supreme Court of the State of New York, First Department.

March 18, 1980

We would affirm for the reasons stated at Special Term but we enlarge upon them solely to respond to the issue raised by our dissenting brother. If it be shown that a real estate appraiser, retained by a property owner to make an appraisal that he knows the owner will use to obtain financing, makes it in a grossly negligent manner so as to inordinately overstate the value, we are not, unlike the dissent, prepared to hold the appraiser...

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