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NYCTL 2005-A Trust v. Rosenberger Boat Livery, Inc.

947 N.Y.S.2d 2 (2012)

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NYCTL 2005-A Trust v. Rosenberger Boat Livery, Inc.

New York Supreme Court, Appellate Division
947 N.Y.S.2d 2 (2012)

  • Written by Robert Cane, JD

Facts

Rosenberger Boat Livery, Incorporated (Rosenberger) (defendant) purchased a parcel of real property, subject to a mortgage. Rosenberger defaulted on its mortgage obligation, which was held by a trust, NYCTL 2005-A Trust (the trust) (plaintiff). The trust brought a foreclosure action against Rosenberger. The trial court entered a judgment of foreclosure and ordered a foreclosure sale at auction. Rosenberger filed a motion to vacate the judgment, which the trial court denied. Rosenberger appealed, arguing that the sale of the property ought to be overturned. However, Rosenberger failed to show both a disparity in purchase price and an equitable reason for relief such as fraud or mistake.

Rule of Law

Issue

Holding and Reasoning (Per curiam)

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