MORTGAGE ELECTRONIC REGISTRATION SYSTEMS, INC., Respondent, v ROSALIE HORKAN et al., Defendants. IPA ASSET MANAGEMENT II, LLC, Nonparty Appellant.
Appellate Division of the Supreme Court of the State of New York, Second Department
890 N.Y.S.2d 326
Following a foreclosure auction conducted on March 26, 2007, the highest bidder at the auction defaulted by failing to appear for a scheduled closing. The plaintiff, who was the second highest bidder at the auction, moved, inter alia, for an order directing the transfer of title of the subject premises to Countrywide Home Loans, Inc., as the plaintiff‘s ultimate assignee. Under the unique circumstances of this case, the Supreme Court providently exercised its discretion in granting that branch of the plaintiff‘s motion. A foreclosure action is equitable in nature and triggers the equitable powers of the court (see Notey v Darien Constr. Corp., 41 NY2d 1055, 1055-1056 [1977]). “Once equity is invoked, the court‘s power is as broad as equity and justice require” (Norstar Bank v Morabito, 201 AD2d 545, 546 [1994]).
Prudenti, P.J., Skelos, Covello and Austin, JJ., concur.