Legal Question in Business Law in New York

Legal rights of a dissolved corporation

I bought a commercial property from a corporation that has been dissolved by the state by proclamation(not voluntary - for non payment). This corporation has filed a foreclosure summons against me. The corporation had been dissolved prior (about 3 yrs) to filing the summons. Does this corporation have any legal rights and what options do I have.

Thanks


Asked on 2/02/05, 5:37 pm

2 Answers from Attorneys
richard feldman richard d. feldman

Re: Legal rights of a dissolved corporation

You should move immediately to dismiss the foreclosure on the ground that the corporation is not authorized to bring the action. you can call me for a free telephone consultation at 516 466 LAWS (5297)

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Answered on 2/03/05, 9:16 am
Jacob Laufer LAUFER & ASSOCIATES

Re: Legal rights of a dissolved corporation

You may be able to temporarily block the foreclosure but the "dissolved" corporation can reinstate itself by payment of certain fees. You should not rely on this as the only defense to the foreclosure. You do not provide enough detail, but this type of circumstance suggests that there may be other defenses available.

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Answered on 2/02/05, 6:38 pm


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