§ 1503 — Action to determine claims where foreclosure of mortgage was void or voidable

New York § 1503

• Jurisdiction: New York
• Law RPA: Real Property Actions & Proceedings
• Art. 15: Action to Compel the Determination of a Claim to Real Property

Text

§ 1503. Action to determine claims where foreclosure of mortgage was\nvoid or voidable. When real property has been sold pursuant to a\njudgment in an action to foreclose a mortgage under article 13 of this\nchapter or pursuant to article 14 of this chapter, or has been conveyed\nto the mortgagee or the designee of such mortgagee by deed in lieu of\nforeclosure, and it appears from the public records or from the\nallegations of the complaint that such judgment, sale or conveyance was\nor may have been, for any reason, void or voidable as against any\nperson, including an owner of the real property mortgaged, the purchaser\nor such mortgagee or designee, or the successor of any such person, in\npossession of such real property, may maintain an action as provided in\nthis article to determine the right of any person to set aside such\njudgment, sale or conveyance or to enforce an equity of redemption or to\nrecover possession of the property, or the right of any junior mortgagee\nto foreclose a mortgage. Such action may be maintained even though an\naction against the defendant to foreclose the mortgage under which the\njudgment, sale or conveyance was made, or to extinguish a right of\nredemption, would be barred by the statutes of limitation.\n