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CENT. FED. SAV. v. LAURELS

145 A.D.2d 1 (1989)

Central Federal Savings F.S.B., Respondent, v. Laurels Sullivan County Estates Corporation et al., Defendants, and Federal Savings and Loan Insurance Corporation, Appellant

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

February 2, 1989

Attorney(s) appearing for the Case

Pieper Hoban & Royce, P. C. (Stephen P. Hoban of counsel), for appellant.

Abelson, Goldston & Odesser (Alan M. Goldston and Richard H. Abelson of counsel), and Cooke & Davis for respondent.

MAHONEY, P. J., KANE, MIKOLL and HARVEY, JJ., concur.

YESAWICH, JR., J.

In February 1978, defendant Laurels Sullivan County Estates Corporation (hereinafter Laurels) executed a mortgage to Jack Halperin in the amount of $1,900,000 covering property it had acquired in December 1977. The mortgage was thereafter assigned to Natalie Development, Inc. (hereinafter Natalie). Due to nonpayment of taxes, the Sullivan County Treasurer took title to the mortgaged premises...

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