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SCHECKTER v. EMIGRANT SAV. BANK

237 A.D.2d 273 (1997)

654 N.Y.S.2d 162

Ronald M. Scheckter, Appellant, v. Emigrant Savings Bank, Respondent

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

March 3, 1997

Ordered that the order is affirmed insofar as appealed from, with costs.

The plaintiff defaulted on a mortgage loan he had with the defendant Emigrant Savings Bank. At the foreclosure sale, the purchaser gave a deposit for the property and entered into a Terms of Sale Agreement (hereinafter the agreement) with the court-appointed Referee. This agreement provided that an automatic forfeiture of the purchaser's deposit would...

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