[Download] "Whitestone Savings and Loan Association v. Allstate Insurance Company" by Court of Appeals of New York * eBook PDF Kindle ePub Free

eBook details

Title: Whitestone Savings and Loan Association v. Allstate Insurance Company
Author : Court of Appeals of New York
Release Date : January 21, 1971
Genre: Law,Books,Professional & Technical,
Pages : * pages
Size : 77 KB

Description

[28 N.Y.2d 332 Page 333] The issue, on summary judgment, is whether a mortgagee who bid in the full amount of the secured debt at the foreclosure
sale in order to obtain the mortgaged property, retains any insurable interest entitling it to sue on a fire insurance policy
under a mortgagee loss payable clause. The answer by well-settled precedents in this State and elsewhere in the Nation is
a unanimous negative, based on the legal and practical considerations which dictate that the owner-mortgagor, or [28 N.Y.2d
332 Page 334]