Does the six (6) year Statute of Limitations for the discharge of a mortgage apply when the holder of the mortgage is a municipality? A friend bought a property in NYC and NYC gave a construction loan. No payments were made and there were no demands for payments by NYC for well over 6 years.
Asked on 4/22/10, 11:15 am
1 Answer from Attorneys
Locksley Wade
Law Office of Locksley O. Wade
It is very likely that there is an automatic lien against the property by operation of law.
Answered on 5/02/10, 5:24 am
