In re Philip

Headnote

Foreclosure sale — refusal of purchaser to complete — when necessary to readvertise property for sale at public auction.

Where the purchaser at a judicial sale in foreclosure refuses to complete Ms purchase it is necessary to readvertise and again offer the property for sale at public auction, in the absence of a statement in the terms of sale or by the referee at the time the sale was made, that in case the purchaser failed to complete, the property would again be offered for sale at a specified time or place.

Matter of Philip, 176 App. Div. 925 , affirmed.

Appeal from an order of the Appellate Division of the Supreme Court in the third judicial department, entered January 9, 1917, which affirmed an order of Special Term setting aside a sale of mortgaged premises and directing a resale.

The following questions were certified: “ (1) Was the referee appointed by the judgment of foreclosure herein without power or authority to resell the mortgaged premises and property at his office on April 25, 1916, under the terms of sale set forth in the record, without again publishing and posting notice of sale, upon the default of James P. Philip in consummating his purchase of the premises and property on his bid, and upon the facts shown in the record ? (2) Was the resale of the mortgaged premises and property by the referee on April 25, 1916, upon the facts shown in the record a valid sale ?”