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Real Property Law
Equitable Mortgage Enjoys Priority over Mortgage Recorded After Filing of Notice of Pendency
Sharestates Investments, LLC v. Hercules NYLJ 12/27/19, p. 25, col. 6 AppDiv, Second Dept. (memorandum opinion)
In an action to foreclose an equitable mortgage, fee owner and the fee owner's mortgagee appealed from Supreme Court's award of summary judgment to holder of the equitable mortgage. The Appellate Division affirmed, holding that because the holder of the equitable mortgage filed the notice of pendency before the mortgagee recorded his mortgage, the equitable lien enjoyed priority.
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