HSBC Bank v Nicholas

Holding The court held that a stipulation executed by attorneys in a prior foreclosure action to toll the statute of limitations remains enforceable despite the retroactive application of the Foreclosure Abuse Prevention Act. Consequently, the plaintiff’s subsequent foreclosure action was deemed timely because the limitations period was tolled until June 1, 2013.

The court’s words

the parties’ stipulation to toll the statute of limitations from July 22, 2008, to June 1, 2013, was unenforceable

252 AD3d 201, at the official text

the voluntary discontinuance of a mortgage foreclosure action on . . . stipulation . . . shall not, in form or effect, waive, postpone, cancel, toll, extend, revive or reset the limitations period

252 AD3d 201, at the official text

FAPA’s text and legislative history plainly manifest the legislature’s intent that these provisions have retroactive effect

252 AD3d 201, at the official text

the parties’ 2011 stipulation in which they expressly agreed to toll the limitations period to June 1, 2013, effectively tolled the limitations period to that date

252 AD3d 201, at the official text