Adam Leitman Bailey, P.C. Protects Mortgage Security for JPMorgan Chase Bank, N.A.
Adam Leitman Bailey, P.C. successfully protected JPMorgan Chase Bank, N.A.’s (“Chase”) security interest in a condominium unit on Lorimer Street in Brooklyn by tracking down the seemingly lost original mortgage, along with the original underlying deed and transfer documents, and successfully ensuring the expedited recordation of all.
On December 21, 2011, the original documents were submitted to the city register by the abstract company for recording; however, the documents were still not of record more than one year later, and Adam Leitman Bailet, P.C. was, therefore, hired to protect Chase’s priority interest in the premises.
The initial claim investigation conducted by Adam Leitman Bailey, P.C. revealed that the register’s office rejected the documents in December 2011 due to an error in the Section 339 Affidavit. The returned documents “slipped through the cracks” when they were sent back to the abstract company for correcting and resubmission.
Ultimately, Adam Leitman Bailey, P.C. tracked the abstract company’s resubmission of the documents and personally appeared at the register’s office to expedite the recordation of the documents. The deed and mortgage were, therefore, recorded less than three business days after their submission, and Chase’s interest in the premises was successfully preserved without the need for any litigation whatsoever.
The Title Litigation Group at Adam Leitman Bailey, P.C. won this case for the insured with Jackie Halpern Weinstein representing the firm.