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FUNDEX CAPITAL CORP. v. REICHARD

172 A.D.2d 420 (1991)

Fundex Capital Corp., Respondent, et al., Plaintiff, v. Wolf Reichard et al., Appellants, et al., Defendants. Leslie Blond, Nonparty Appellant

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

April 25, 1991

The security pledged in this foreclosure action — shares constituting ownership of a cooperative apartment, and its proprietary lease — represents chattel real, i.e., personalty, not realty (Matter of State Tax Commn. v Shor, 43 N.Y.2d 151), and is thus governed by the procedure for enforcement of a security interest (UCC art 9), rather than the procedure for summary recovery...

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