155 Misc. 779 | N.Y. Sup. Ct. | 1935
On June 25, 1923, the plaintiffs gave their bond to the defendant to secure the sum of $10,000, and at the same time as security for such bond plaintiffs executed and delivered to
Section 1083-a of the Civil Practice Act, as in force at the time of the decree of foreclosure and at the time of sale and until May 14, 1934, provided in part as follows: “ If no motion for a deficiency judgment shall be made as herein prescribed the proceeds of the sale regardless of amount shall be deemed to be in full satisfaction of the mortgage debt and no right to recover any deficiency in any action or proceeding shall exist.”
By amendment in effect May 14, 1934, the last sentence of such section read as follows: “If no motion for a deficiency judgment shall be made as herein prescribed the proceeds of the sale regardless of amount shall be deemed to be in full satisfaction of the mortgage debt and no right to recover any deficiency judgment in any action or proceeding shall exist.” (Laws of 1934, chap. 562.)
By amendment in effect May 12, 1934, this last sentence was made to read as follows: “the proceeds of the sale regardless of amount shall be deemed to be in full satisfaction of the mortgage debt and no right to recover any deficiency in any action or proceeding shall exist.” (Laws of 1934, chap. 564.)
By the enactment of section 1083-a, both in the original and as amended, the Legislature took away the right to a deficiency