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Adam Leitman Bailey, P.C. Gets Lender Paid on Its Unrecorded and Lost Original Mortgage

In DEUTSCHE BANK NATIONAL TRUST COMPANY v. KEEGAN, et al., Adam Leitman Bailey, P.C. conceived, negotiated, and orchestrated a pre-trial settlement, in which the insured’s unrecorded and lost mortgage was paid in full, despite the borrower being deceased, the borrower’s estate alleging wrongdoings on the part of the servicer, and the current lender litigating for dismissal of the insured’s quiet title action to have a copy of the mortgage recorded, arguing that the insured’s causes of action for equitable subrogation and an equitable lien/equitable mortgage were time barred pursuant to CPLR § 3211(a)(5).

In the face of this hotly contested quiet title action, and with the borrower’s estate commencing a related action seeking an order directing a severely reduced payoff for the loan, Adam Leitman Bailey, P.C. prevailed in successfully settling this Article 15 action to quiet title with a Mutual Release and Settlement Agreement, avoiding protracted litigation and an uphill trial.

Notably, despite the insured’s title company offering to pay a specific contribution amount to get the insured’s mortgage paid in full, Adam Leitman Bailey, P.C. negotiated a contribution from the competing lender’s title company, saving the insured’s title company on the contribution amount needed for settlement.

Jackie Halpern Weinstein of the Title Litigation and Foreclosure Groups at Adam Leitman Bailey, P.C. won this case for the insured.

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