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Real Property Law
Statute of Limitations Bars Foreclosure When Mortgagee Was Not Mortgagee In Possession
Mardenborough v. U.S. Bank, N.A., NYLJ 1/7/22, p. 24, col. 6, AppDiv, Second Dept. (3-1 decision; memorandum opinion; dissenting memorandum by Austin, J.P.)
In mortgagor's action to cancel and discharge a mortgage, mortgagor appealed from Supreme Court's grant of summary judgment to mortgagee dismissing the complaint and on mortgagee's counterclaim for foreclosure. The Appellate Division reversed and granted summary judgment to mortgagor, holding that mortgagee could not claim status as a mortgagee in possession to avoid expiration of the statute of limitations.
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