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When a junior mortgagee advances funds used to satisfy a senior mortgage, the equitable subrogation doctrine permits the junior mortgagee to step into the senior mortgagee’s shoes, and to obtain priority over interests junior to the senior mortgage. Because the doctrine is designed to avoid unjust enrichment, courts inquire into the facts surrounding the transactions in question to determine whether any enrichment would be “unjust,” and that inquiry often focuses on the degree of fault attributable to the junior mortgagee. Recently, the Second Department faced three claims of equitable subrogation over a two-week period and in two of those cases, indicated that the doctrine would not be applicable if the junior mortgagee advanced funds to satisfy a senior mortgage with knowledge of an interest whose priority was inferior to that senior mortgage.
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The Guaranty Law Continues to Divide Opinion
By Matthew J. Schenker and Joshua Kopelowitz
This article discusses the recent developments surrounding the constitutionality of the Guaranty Law. In particular, we address the Southern District’s view that the statute is unconstitutional and the splintered view of the statute’s constitutionality expressed by New York State courts.
By New York Real Estate Law Reporter Staff
ZBA’s Abandonment of Its Prior Determination Invalid
Denial of Area Variance Upheld
Lease of Town Property Upheld; Property Not Subject to Public Trust
East Side Rezoning Upheld Against SEQRA Challenge
By New York Real Estate Law Reporter Staff
Partial Constructive Eviction Defense Recognized
Condition Precedent to Sub-Sublease Not Satisfied
Guaranty Law Does Not Bar Liquidated Damages Claim
Penalty for Improper Conversion of Residential Building
Force Majeure Clause Reduces Pandemic-Era Rent
By New York Real Estate Law Reporter Staff
Contract Language Does Not Bar Purchaser’s Recovery of Prejudgment Interest
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