Second Department Rules That Cooperative Apartment Owners' Rights Are Precarious

On June 14, 2023, the Second Department decided Walsh v Ocwen Loan Servicing. The court, with little fanfare, appeared to rule that cooperative apartment owners are saddled with an unavoidable risk of loss. That is, if a lender alleges that the owners have defaulted, and then conducts a nonjudicial foreclosure sale, the former owners are left with few remedies.

6 minute read September 01, 2023 at 01:57 AM
By
Paul Golden
Second Department Rules That Cooperative Apartment Owners' Rights Are Precarious

On June 14, 2023, the Second Department decided Walsh v Ocwen Loan Servicing, LLC. The court, with little fanfare, appeared to rule that cooperative apartment owners are saddled with an unavoidable risk of loss.

This premium content is locked for New York Real Estate Law Reporter subscribers only

ENJOY UNLIMITED ACCESS TO THE SINGLE SOURCE OF OBJECTIVE LEGAL ANALYSIS, PRACTICAL INSIGHTS, AND NEWS IN New York Real Estate Law Reporter

  • Stay current on the latest information, rulings, regulations, and trends
  • Includes practical, must-have information on copyrights, royalties, AI, and more
  • Tap into expert guidance from top entertainment lawyers and experts
Subscribe Now

Already have an account? Sign In Now

For enterprise-wide or corporate access, please contact Customer Service at [email protected] or call 1-877-256-2473.

NOT FOR REPRINT

© 2026 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Continue Reading

Is Your Law Firm’s AI Ready for Answer Engines and Clients?

AI claims are getting more scrutiny and regulators are looking more closely at whether organizations can substantiate what they say their AI does, while courts are beginning to address what happens when AI-generated search summaries get information wrong.

November 01, 2026

When AI Agents Trigger a Crisis, Part 2: Before the Agent Acts

This is the second in a two-part series on AI-driven crises. Part 1 examined communications during an incident while the facts are still developing. Part 2 addresses crisis plans, governance and tabletop exercises before an agent acts on behalf of the business.

November 01, 2026
Centellic Logo

© Copyright 2026 ALM Global, LLC trading as Centellic.

Advertise with Us Customer Support Terms of Service