Legal Question in Appeals and Writs in New York
foreclosure sale of home
do you have to post a bond in a forcloseue and sale action when getting an order to show cause on appeal
1 Answer from Attorneys
Re: foreclosure sale of home
Yes. In particular, NY CPLR 5519 states the following:
"6. the appellant or moving party is in possession or control of real property which the judgment or order directs be conveyed or delivered, and an undertaking in a sum fixed by the court of original instance is given that the appellant or moving party will not commit or suffer to be committed any waste and that if the judgment or order appealed from, or any part of it, is affirmed, or the appeal is dismissed, the appellant or moving party shall pay the value of the use and occupancy of such property, or the part of it as to which the judgment or order is affirmed, from the taking of the appeal until the delivery of possession of the property; if the judgment or order directs the sale of mortgaged property and the payment of any deficiency, the undertaking shall also provide that the appellant or moving party shall pay any such deficiency...."
Mike
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