Friday, May 8, 2015

NASSAU COUNTY: Westbury Properties v. Produce Distributors, Inc.

Plaintiffs moved for summary judgment to cancel and discharge the record mortgage. Westbury Properties obtained titled to a Westbury property from Prisco, who conveyed an Oceanside property to South Shore Farmer's Market. The owners of the Westbury and Oceanside properties gave a mortgage to Produce Distributors, and the parties to the mortgage agreed there was over $1.75 million due on the subject promissory note and loan associated with the mortgage. Both sides agreed there was never a payment made under the note, mortgage or extension agreement. The court found plaintiff demonstrated the statute of limitations to commence an action for foreclosure expired, therefore, made a prima facie showing of entitlement to relief, while defendant Produce Distributors failed to raise an issue of fact as to why such relief should not be granted. It noted defendant failed to submit evidence to support a contention that discovery would alter the result—that discovery may yield fact to provide a bona fide defense to the motion. Accordingly, the motion for summary judgment was granted, and the County Clerk was ordered to cancel the mortgage and extension of record. The court dismissed any counterclaims seeking to foreclose or enforce the mortgage.


1 comment:

  1. One of the MOST common and biggest mistakes a promissory note holder can make when creating a promissory note is to forget (and, overlook) the real importance and value of checking the credit history of the buyer
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