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Real Property Law
Partner Had Authority to Sell Tenancy In Common Property
138-140 West 32nd Street Associates, LLC v. 138-140 West 32nd Street Associates, NYLJ 4/18/22, p. 18, col. 1, AppDiv, First Dept. (memorandum opinion)
In buyer's action for breach of contract to by commercial property, seller appealed from Supreme Court's grant of partial summary judgment to buyer. The Appellate Division affirmed, holding that one of the seller's partners had authority to sell the property even though the deed was held by the two partners as tenants in common.
Buyer contracted to purchase two parcels from a partnership. One of the deeds was held in the name of the partnership, while the deed to the other property was held by the partners as tenants in common. Because the contract of sale was signed by only one of the two partners, sellers contended that the contract was not enforceable. Sellers also contended that the contract failed for lack of consideration because purchaser did not timely make the $400,000 deposit required by the sale contract. Supreme Court rejected both contentions and awarded partial summary judgment to buyer. Sellers appealed.
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