The Weekly Friedman | Episode 17
September 11, 2024The Weekly Friedman | Episode 18
September 18, 2024In the case of PROF-2013-S3 Legal Title Trust II v. West Fork Funding LLC, the Supreme Court of Bronx County ruled on motions for summary judgment from both parties. Justice Naita A. Semaj presided over the decision.
Procedural History: PROF-2013-S3 Legal Title Trust II (Plaintiff), represented by U.S. Bank National Association, brought a reforeclosure action against West Fork Funding LLC (Defendant). Plaintiff sought summary judgment to foreclose the right of redemption of the Defendant, who had acquired title to the property after a condominium lien foreclosure. West Fork counterclaimed, seeking summary judgment to void Plaintiff’s claims and to cancel the deeds and mortgage related to the property.
Key Decision: The court granted the Plaintiff’s motion for summary judgment, affirming its right to reforeclose on the property. It found that the Defendant’s interest was subordinate to the Plaintiff’s mortgage and that the omission of West Fork in the original foreclosure did not constitute fraud or willful neglect. The court ruled that West Fork’s defenses lacked merit, as it could not raise certain borrower-related defenses like a statute of limitations or challenge the validity of the mortgage. The defendant’s motion for summary judgment was denied. West Fork was given 30 days to exercise its right of redemption, failing which its interest in the property would be extinguished.
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