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SANDERS v. PALMER

68 N.Y.2d 180 (1986)

Thelma Sanders et al., Appellants, v. Jeanette Palmer et al., Respondents.

Court of Appeals of the State of New York.

Decided October 16, 1986.

Attorney(s) appearing for the Case

Vincent A. Malito for appellants.

Regina Seltzer and Reuben R. Kaufman for Jeanette Palmer, respondent.

Chief Judge WACHTLER and Judges SIMONS, KAYE, ALEXANDER, TITONE and HANCOCK, JR., concur.

MEYER, J.

When a single debt is secured by a mortgage of property of the corporate debtor and by a mortgage of the separate property of an individual guarantor, the failure to obtain a deficiency judgment after the sale of the corporate debtor's property in a foreclosure action in which the guarantor is a party defendant bars further action to foreclose the guarantor...

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