517-525 W. 45 LLC v. Avrahami

Summary

The Appellate Division, First Department affirmed a judgment granting strict foreclosure to the purchaser of property sold in a prior foreclosure action. The court held that the six-year statute of limitations for the strict foreclosure action began when the property was sold and conveyed in July 2014, rather than when the original foreclosure action was filed in 2009. The court declined to review the redemption amount because it was still being determined by a referee.

Holdings

1. The six-year statute of limitations applicable to the strict-foreclosure action began to run when the property was sold and the deed was delivered in July 2014, not when the original foreclosure action was filed in October 2009.
2. The challenge to the computation of the redemption amount was premature and not ripe for appellate review because the total amount was still being determined by a referee.

Questions Presented

1. Whether the six-year statute of limitations for plaintiff's strict-foreclosure action began when the original foreclosure action was filed or when the property was sold and conveyed to plaintiff.
2. Whether plaintiff was entitled to summary judgment and strict foreclosure against the omitted junior mortgagee.
3. Whether the court could review the computation of the redemption amount while that amount was still being determined by a referee.

Disposition

affirmed