State Codes and Statutes

Statutes > New-york > Rpa > Article-15 > 1523

§  1523.  Judgment  of  foreclosure  in certain cases. 1. In an action  under section 1503 if it shall appear to the  court  that  there  was  a  defect  in  the original foreclosure proceedings and such defect was not  occasioned by the fraud or wilful neglect of the plaintiff, the judgment  may foreclose or reforeclose the mortgage pursuant to article 13 of this  chapter, notwithstanding that an action to foreclose the mortgage  would  otherwise  be  barred;  provided,  however,  that  no  recovery shall be  granted for any residue of the debt, remaining unsatisfied, if an action  to foreclose the mortgage would otherwise be barred.    2. If it shall appear to the court in any such action that the  defect  in the foreclosure proceedings was not due to fraud or wilful neglect of  the  plaintiff and that the defendant or the person under whom he claims  was not actually prejudiced thereby, the judgment may  fix  a  time  for  redemption  of  the property and provide that a failure to redeem within  such time shall thereafter preclude the  defendant  from  redeeming  the  property or claiming any right, title or interest therein.    3.  If  a redemption of the property is ordered, the court must direct  that the value of any improvement to the property made subsequent to the  original sale or conveyance in lieu of foreclosure  shall  be  added  in  computing  the  amount  necessary  to  redeem  the premises, in the same  manner as if the value  of  such  improvements  was  a  portion  of  the  mortgage debt.    4.  If a new sale of the premises is ordered, the court may include in  the judgment a provision awarding to the  plaintiff  the  value  of  any  improvements  to  the  property  made subsequent to the original sale or  conveyance in lieu of foreclosure, in the same manner as if the value of  such improvements was a portion of the mortgage debt.    5. The relief provided for in subdivision two of  this  section  shall  not be granted unless    a. the mortgage was executed after September 1, 1951, or    b. the defendant whose right title or interest will be extinguished by  failure  to  redeem  the  property within the time fixed by the judgment  held such right to redeem only by virtue of a  subordinate  mortgage  or  other  lien,  and  an action to foreclose such right of redemption would  not be barred at the time this act shall take effect.    The relief provided for in subdivision four of this section shall  not  be  granted  unless  the improvements were made after September 1, 1951,  except to the extent that a recovery, allowance  or  credit  for  or  on  account  of  the  value of any improvements, including improvements made  prior to the effective date of this act, might be granted, in any  other  action  or proceeding, to the person maintaining the action provided for  in section 1503.

State Codes and Statutes

Statutes > New-york > Rpa > Article-15 > 1523

§  1523.  Judgment  of  foreclosure  in certain cases. 1. In an action  under section 1503 if it shall appear to the  court  that  there  was  a  defect  in  the original foreclosure proceedings and such defect was not  occasioned by the fraud or wilful neglect of the plaintiff, the judgment  may foreclose or reforeclose the mortgage pursuant to article 13 of this  chapter, notwithstanding that an action to foreclose the mortgage  would  otherwise  be  barred;  provided,  however,  that  no  recovery shall be  granted for any residue of the debt, remaining unsatisfied, if an action  to foreclose the mortgage would otherwise be barred.    2. If it shall appear to the court in any such action that the  defect  in the foreclosure proceedings was not due to fraud or wilful neglect of  the  plaintiff and that the defendant or the person under whom he claims  was not actually prejudiced thereby, the judgment may  fix  a  time  for  redemption  of  the property and provide that a failure to redeem within  such time shall thereafter preclude the  defendant  from  redeeming  the  property or claiming any right, title or interest therein.    3.  If  a redemption of the property is ordered, the court must direct  that the value of any improvement to the property made subsequent to the  original sale or conveyance in lieu of foreclosure  shall  be  added  in  computing  the  amount  necessary  to  redeem  the premises, in the same  manner as if the value  of  such  improvements  was  a  portion  of  the  mortgage debt.    4.  If a new sale of the premises is ordered, the court may include in  the judgment a provision awarding to the  plaintiff  the  value  of  any  improvements  to  the  property  made subsequent to the original sale or  conveyance in lieu of foreclosure, in the same manner as if the value of  such improvements was a portion of the mortgage debt.    5. The relief provided for in subdivision two of  this  section  shall  not be granted unless    a. the mortgage was executed after September 1, 1951, or    b. the defendant whose right title or interest will be extinguished by  failure  to  redeem  the  property within the time fixed by the judgment  held such right to redeem only by virtue of a  subordinate  mortgage  or  other  lien,  and  an action to foreclose such right of redemption would  not be barred at the time this act shall take effect.    The relief provided for in subdivision four of this section shall  not  be  granted  unless  the improvements were made after September 1, 1951,  except to the extent that a recovery, allowance  or  credit  for  or  on  account  of  the  value of any improvements, including improvements made  prior to the effective date of this act, might be granted, in any  other  action  or proceeding, to the person maintaining the action provided for  in section 1503.

State Codes and Statutes

State Codes and Statutes

Statutes > New-york > Rpa > Article-15 > 1523

§  1523.  Judgment  of  foreclosure  in certain cases. 1. In an action  under section 1503 if it shall appear to the  court  that  there  was  a  defect  in  the original foreclosure proceedings and such defect was not  occasioned by the fraud or wilful neglect of the plaintiff, the judgment  may foreclose or reforeclose the mortgage pursuant to article 13 of this  chapter, notwithstanding that an action to foreclose the mortgage  would  otherwise  be  barred;  provided,  however,  that  no  recovery shall be  granted for any residue of the debt, remaining unsatisfied, if an action  to foreclose the mortgage would otherwise be barred.    2. If it shall appear to the court in any such action that the  defect  in the foreclosure proceedings was not due to fraud or wilful neglect of  the  plaintiff and that the defendant or the person under whom he claims  was not actually prejudiced thereby, the judgment may  fix  a  time  for  redemption  of  the property and provide that a failure to redeem within  such time shall thereafter preclude the  defendant  from  redeeming  the  property or claiming any right, title or interest therein.    3.  If  a redemption of the property is ordered, the court must direct  that the value of any improvement to the property made subsequent to the  original sale or conveyance in lieu of foreclosure  shall  be  added  in  computing  the  amount  necessary  to  redeem  the premises, in the same  manner as if the value  of  such  improvements  was  a  portion  of  the  mortgage debt.    4.  If a new sale of the premises is ordered, the court may include in  the judgment a provision awarding to the  plaintiff  the  value  of  any  improvements  to  the  property  made subsequent to the original sale or  conveyance in lieu of foreclosure, in the same manner as if the value of  such improvements was a portion of the mortgage debt.    5. The relief provided for in subdivision two of  this  section  shall  not be granted unless    a. the mortgage was executed after September 1, 1951, or    b. the defendant whose right title or interest will be extinguished by  failure  to  redeem  the  property within the time fixed by the judgment  held such right to redeem only by virtue of a  subordinate  mortgage  or  other  lien,  and  an action to foreclose such right of redemption would  not be barred at the time this act shall take effect.    The relief provided for in subdivision four of this section shall  not  be  granted  unless  the improvements were made after September 1, 1951,  except to the extent that a recovery, allowance  or  credit  for  or  on  account  of  the  value of any improvements, including improvements made  prior to the effective date of this act, might be granted, in any  other  action  or proceeding, to the person maintaining the action provided for  in section 1503.