In re Bond & Mortgage Guarantee Co.
This text of 169 Misc. 196 (In re Bond & Mortgage Guarantee Co.) is published on Counsel Stack Legal Research, covering New York Supreme Court primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Opinion
The certificates contain no provision to the effect that the guarantee company (as distinguished from the title company) shall have the right to hold certificates for its own account or that such certificates are to share equally with certificates held by others. The “ presumption ” is that the holdings of the guarantee company are subordinate to those of other certificate holders. (Matter of Title Mortgage Guaranty Co., 275 N. Y. 347, at p. 355.) As there is nothing to rebut this presumption, the motion is granted. Settle order.
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Cite This Page — Counsel Stack
169 Misc. 196, 7 N.Y.S.2d 254, 1937 N.Y. Misc. LEXIS 1223, Counsel Stack Legal Research, https://law.counselstack.com/opinion/in-re-bond-mortgage-guarantee-co-nysupct-1937.