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FGH Realty Credit Corp. v. Bonati

Appellate Division of the Supreme Court of New York, First Department
Apr 11, 1996
226 A.D.2d 188 (N.Y. App. Div. 1996)

Opinion

April 11, 1996

Appeal from the Supreme Court, Suffolk County (Lester Gerard, J.).


There was no evidence to support defendant's claim that plaintiff had orally agreed to forbear from foreclosing (see, Blittner v. Friesch-Groningshe Hypotheebank Realty Credit Corp., 221 A.D.2d 152; Massachusetts Mut. Life Ins. Co. v. Gramercy Twins Assocs., 199 A.D.2d 214, 217). Nor did plaintiff submit any evidence to demonstrate that an exception to the mortgage's non-recourse provision should apply. In any event, although banks, as escrow holders of funds to be used for payment of taxes, may be held liable on a theory of fiduciary breach for nonpayment ( see, Davis v. Dime Sav. Bank, 158 A.D.2d 50), a non-escrow-holding mortgagor who fails to pay taxes does not thereby commit fraud within the meaning of the nonrecourse exception herein. With respect to plaintiff's argument that the fraudulent nonpayment of taxes by a mortgagor may constitute waste (see, Travelers Ins. Co. v. 633 Third Assocs., 14 F.3d 114, 123), we find that there was no evidence of fraud herein.

We have considered the parties' other contentions for affirmative relief and find them to be without merit.

Concur — Ellerin, J.P., Wallach, Kupferman, Williams and Mazzarelli, JJ.


Summaries of

FGH Realty Credit Corp. v. Bonati

Appellate Division of the Supreme Court of New York, First Department
Apr 11, 1996
226 A.D.2d 188 (N.Y. App. Div. 1996)
Case details for

FGH Realty Credit Corp. v. Bonati

Case Details

Full title:FGH REALTY CREDIT CORP., Appellant-Respondent, v. ERNEST BONATI…

Court:Appellate Division of the Supreme Court of New York, First Department

Date published: Apr 11, 1996

Citations

226 A.D.2d 188 (N.Y. App. Div. 1996)
641 N.Y.S.2d 12

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