Case ID: ad_241/html/0627-06.html
Source: Caselaw Access Project
Author: {"author": "", "license": "Public Domain", "url": "https://static.case.law/"}
Date Created: 2024-08-24T03:29:51.129683

George V. Grainger, as Substituted Trustee, under the Trust Created under Paragraph Eighth of the Last Will and Testament of Nanette Weber, Late of the County of New York, Deceased, Respondent, v. Hedwig Engel and Others, Defendants, Impleaded with The Chase National Bank of the City of New York, as Trustee under a Deed of Trust Made by Hedwig Engel, Dated February 24, 1928, Appellant, and Ottilie Hoffbauer Lehman, Respondent.
    
    
      
       Revd., 265 N. Y. 118.
    
   Judgment reversed upon the law and the facts, with costs, and complaint dismissed. Whether the interest of the remaindermen named in the will is a vested or contingent interest does not affect the right of either of the remainder-men to make a valid mortgage of such interest as the remainderman has in the property. It is of no legal concern to the plaintiff that one of these remainder-men mortgaged “ all her right, title and interest ” in the premises. The mortgagee of such interest does not complain, nor do her successors in interest. This mortgage may not be destroyed upon the suit of the plaintiff trustee, and it does not constitute a cloud upon his title. Such a contingent interest is the subject of a valid mortgage. (Real Prop. Law, § 240, subd. 4; see, also, § 274; Wilson v. Wilson, 32 Barb, at p. 344; 1 Jones Mort. [8th ed.] § 191; 41 C. J. p. 374, § 159.) Findings of fact and conclusions of law inconsistent herewith are reversed, and new findings will be made accordingly, order to be settled on notice. Lazansky, P. J., Young, Kapper, Hagarty and Carswell, JJ., concur.