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Distressed Debt Acquisition Support

Recent NY Case Expands Application of Equitable Subrogation in Second Department

By Debra Smith, Esq.
Associate Commercial Counsel

A recent case in the Second Department in New York has expanded the long-standing position held on the issue of equitable subrogation. Before delving into the details of the specific case, it may help to explain the concept. Equitable subrogation is a doctrine recognized in most states and a common issue in the world of real estate and lending. This doctrine enables a lender that pays off an existing loan to stand in the shoes of the lien holder it paid off for priority purposes. This is an equitable remedy that allows, in certain circumstances, for the lien holder (lender) to change its priority position to the extent of the lien paid.

How does equitable subrogation work? And how does the recent NY case expand the application of equitable subrogation in the Second Department?
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Madison CRES Experts Scheduled To Attend ICSC RECON 2012

The leadership at Madison Commercial Real Estate Services (MCRES) will be attending and exhibiting at RECON 2012, the largest retail commercial real estate convention in the world. Hosted by the International Council of Shopping Centers, the RECON Show will be held in Las Vegas, NV from May 20-23, 2011. This is a rare opportunity for commercial real estate property owners and their advisors to meet privately with all of Madison’s top brass – in Madison’s private conference rooms at Booth S541, at the corner of W Street and 54th Avenue in the South Hall — to review and gain insight of how best to improve the ROI of one or multiple properties. To schedule an appointment with Madison’s Leadership Team at RECON 2012, contact Keren Peters at 732-333-2471 or kpeters@madisoncres.com to coordinate a meeting date and time. Continue reading

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