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MATTER OF FASTAG v. CHEM. BANK

242 A.D.2d 445 (1997)

662 N.Y.S.2d 466

In the Matter of Meilech Fastag et al., Respondents, v. Chemical Bank, Now Known as Chase Manhattan Bank, Appellant

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

September 16, 1997

The motion court correctly determined that respondent had failed to perfect a security interest in the apartment because, while its security agreement and financing statement correctly describe the "stock" as a certain number of shares of a certain residential cooperative, those documents misdescribed the "apartment" to which such shares were allocated as being located in a different building and it cannot be said that a misdescription...

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