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AL-SAR REALTY v. GRIFFITH

139 Misc.2d 104 (1987)

AL-SAR Realty Corporation, Plaintiff, v. William H. Griffith et al., Defendants.

Supreme Court, Oneida County.

August 31, 1987

Attorney(s) appearing for the Case

John F. Tierney for plaintiff. Andrew S. Kowalczyk, Jr., for William H. Griffith, defendant. Groben Gilroy, Kowal & Oster for Oneida County Industrial Development Authority, defendant.

JOHN R. TENNEY, J.

In 1980, William H. Griffith owned several parcels of commercial property located in Yorkville, New York. He financed this development through the Oneida County Industrial Development Authority (OCIDA).

OCIDA regulations state that in such transactions the deed shall be placed in its name. The property was mortgaged to Banker's Trust Company (the bank), to secure the $750,000 loan...

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