Summary
In Arzouian v. LaMont (265 A.D. 985) the premises had been coveyed to the trustee subject to the mortgage, which was alleged to be usurious.
Summary of this case from Matter of SextonOpinion
December 29, 1942.
Appeal from an order granting a summary judgment of foreclosure and sale, and striking out the answer of the appellant trustee; and denying a cross-motion by appellant to dismiss the complaint. Appellant, as trustee in bankruptcy, set up a defense of usury in the action for foreclosure. The premises covered by the mortgage were owned by the bankrupt and his wife as tenants by the entirety. They were conveyed to a general assignee for the benefit of creditors subject to the mortgage in question. Subsequently the general assignee conveyed the premises to the appellant trustee, and such conveyance was also made subject to the mortgage. The Special Term held that under the circumstances the appellant trustee could not interpose a defense of usury. Order affirmed with ten dollars costs. Crapser, Bliss, Heffernan and Foster, JJ., concur; Hill, P.J., dissents.