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50 EAST 78 v. PANETH

247 A.D.2d 222 (1998)

668 N.Y.S.2d 358

50 East 78, L. P., Respondent, v. Samuel Paneth et al., Appellants

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

February 5, 1998

We perceive no reasons in equity for departing from the well settled rule that junior mortgagees who were not joined in the foreclosure of a senior mortgage, and who desire to exercise their right to redemption, must pay not merely the amount bid at the auction but the amount due on the mortgage (see, 78 NY Jur 2d, Mortgages and Deeds of Trust, § 400, citing, inter alia, Benedict v Gilman, 4 Paige Ch 58; Quaremba v Nassau Suffolk Lbr. & Supply...

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