1824-53RD ST. REALTY CORP. v. DANIEL PERLA ASSOCS.


131 A.D.2d 450 (1987)

1824-53rd Street Realty Corp., Respondent, v. Daniel Perla Associates, Appellant

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

June 1, 1987


Ordered that the judgment is affirmed, with costs.

The narrow issue presented by this appeal is whether the petitioner, the mortgagor of certain property, is entitled to prepay that portion of the mortgage which had been assigned to the appellant, and receive in return a satisfaction of the mortgage debt reflecting that prepayment. We answer this question in the affirmative. Pursuant to the terms of the mortgage and mortgage note, the petitioner possessed an unqualified...

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