CENTRAL FEDERAL SAVINGS v. Chatsworth Assets Inc., Non-Party Respondent. (1997)

Supreme Court, Appellate Division, First Department, New York.

CENTRAL FEDERAL SAVINGS, F.S.B., Plaintiff-Appellant, v. 405 W. 45TH ST., INC., Defendant-Appellant, 405 Associates, et al, Defendants. Chatsworth Assets Inc., Non-Party Respondent.

Decided: September 30, 1997

Before MILONAS, J.P., and NARDELLI, RUBIN, MAZZARELLI and ANDRIAS, JJ.

William R. Kutner, for defendant-appellant. June Diamant, for non-party respondent.

Orders, Supreme Court, New York County (Karla Moskowitz, J.), entered October 24 and 29, 1996, respectively which, inter alia, granted nonparty Chatsworth Assets Inc.'s motion to extend the notice of pendency in this foreclosure action for an additional three-year period, and denied defendant's motion for summary judgment dismissing the complaint, unanimously affirmed, with costs.

Since defendant does not challenge the substantive validity of the assignment of the subject mortgage to Chatsworth Assets, and since an assignee of a mortgage can continue an action in the name of the original mortgagee, even in the absence of a formal substitution (CPLR 1018), there is no merit to defendant's claim that the action should be dismissed on the ground that the named plaintiff “owns no rights in this matter”. Nor is there merit to defendant's claim that Chatsworth Assets has been guilty of delay and bad faith warranting no further extensions of the notice of pendency.

MEMORANDUM DECISION.

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