Majority
Appeal from a judgment of the Supreme Court in favor of defendants, entered October 17,1980 in Rensselaer County, upon a decision of the court at Trial Term (Conway, J.), without a jury. On February 16, 1976, plaintiffs conveyed by warranty deed (Document A) a 96.8-acre parcel to defendants, their daughter and son-in-law. Simultaneously, another document (Document B) was signed by defendants which ostensibly conveyed one half of the same parcel back to plaintiffs. Document A was recorded in the Rensselaer County Clerk’s office. Document B, initially retained by defendants’ attorney, was subsequently recorded in the Rensselaer County Clerk’s office by plaintiffs. In July, 1976, defendants mortgaged the entire parcel to the Federal Land Bank of Springfield, with a portion of the proceeds of this mortgage being used to satisfy plaintiffs’ existing mortgage on the property. In addition, $2,300 of the mortgage proceeds was paid to plaintiffs with the remainder of the $27,000 purchase price being paid by an assignment by defendants to plaintiffs of a mortgage held by defendants, cash payments, and by the grant of
Cases cited
- Bankers Trust Co. v. Martin 51 AD2d 411 at 413-414 p. 735
- Sharp v. Kosmalski 40 NY2d 119 at 121 p. 735
- Petrolawicz v. Scuderi 82 AD2d 1001 p. 735
- In re the Estate of Housman 224 NY 525 at 527 p. 735
- In re Estate of Tabler 73 AD2d 101 p. 735
- S. Kornblum Metals Co. v. Intsel Corp. 38 NY2d 376 at 379 p. 735
- Peterson v. Martino 210 NY 412 at 420 p. 735