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NYCTL 1997-1 TRUST v. STELL

2018-14500. Index No. 13104/98.

184 A.D.3d 9 (2020)

124 N.Y.S.3d 41

2020 NY Slip Op 02802

NYCTL 1997-1 TRUST et al., Plaintiffs, v. IGAL STELL, Appellant, et al., Respondents, et al., Defendant.

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

Decided May 13, 2020.

Attorney(s) appearing for the Case

Eric Nelson , Staten Island, for appellant.

James E. Johnson , Corporation Counsel, New York City ( Scott Shorr and Nwamaka Ejebe of counsel), for respondent City of New York Department of Housing Preservation and Development.

MASTRO, LEVENTHAL and MALTESE, JJ., concur.

OPINION OF THE COURT

The issue posed on this appeal is who is entitled to the surplus money generated by a tax lien sale: the holder of the first mortgage or the holder of the equitable right of redemption. We conclude that, on the facts presented, the funds belong to the first mortgagee. Elucidation and clarification...

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