In re Craig

County Court of New York, Putnam County

In re Craig

156 Misc. 551, 281 N.Y.S. 251, 1935 N.Y. Misc. LEXIS 1294

CourtNew York County Court, Putnam County

DecidedJuly 10, 1935

StatusPublished

This text of 156 Misc. 551 (In re Craig) is published on Counsel Stack Legal Research, covering New York County Court, Putnam County primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

In re Craig, 156 Misc. 551, 281 N.Y.S. 251, 1935 N.Y. Misc. LEXIS 1294 (N.Y. Super. Ct. 1935).

Pincite

Opinion

Bailey, J.

Upon this application for the appointment of an umpire to ascertain and determine the amount of loss or damage by fire, it appears that a mortgagee clause is attached to each of the policies providing that the loss, if any, shall be paid to the first mortgagee as its interest may appear. The language of the standard form of insurance policy in respect to the determination of the loss by appraisers and an umpire provides that an award, when made and filed, shall determine the amount of sound value and loss or damage. This would appear to bind the mortgagee. In the present case, it appears that the interest of the mortgagee is far in excess of the loss and that the mortgagee will undoubtedly be entitled to the entire award.

It is my opinion, therefore, that the mortgagee should be made a party to the application for the appointment of an umpire to act with the appraisers selected by the respective parties, or that such application should be made with the consent of the mortgagee.

Upon the reason set forth herein, the motion is denied.

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Bailey, J.

Upon this application for the appointment of an umpire to ascertain and determine the amount of loss or damage by fire, it appears that a mortgagee clause is attached to each of the policies providing that the loss, if any, shall be paid to the first mortgagee as its interest may appear. The language of the standard form of insurance policy in respect to the determination of the loss by appraisers and an umpire provides that an award, when made and filed, shall determine the amount of sound value and loss or damage. This would appear to bind the mortgagee. In the present case, it appears that the interest of the mortgagee is far in excess of the loss and that the mortgagee will undoubtedly be entitled to the entire award.

It is my opinion, therefore, that the mortgagee should be made a party to the application for the appointment of an umpire to act with the appraisers selected by the respective parties, or that such application should be made with the consent of the mortgagee.

Upon the reason set forth herein, the motion is denied.

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Bluebook (online)

156 Misc. 551, 281 N.Y.S. 251, 1935 N.Y. Misc. LEXIS 1294, Counsel Stack Legal Research, https://law.counselstack.com/opinion/in-re-craig-nyputnamctyct-1935.