Attempting to Obtain Home Equity Loan for a Home You Don't Own
In People v. Bolden, 194 AD2d 834, 598 N.Y.S.2d 603 (3d Dept 1993), lv denied, 82 NY2d 714, 622 N.E.2d 312, 602 N.Y.S.2d 811, the Defendant, Barry Bolden, attempted to obtain a home equity loan for a home he did not own and had no right to borrow against which was owned by Colleen Bolden and convicted after a jury trial of attempted grand larceny.
The Court held that while this conduct was criminal, it was not attempted larceny.
The Court found, inter alia, that although the intended victim, Colleen Bolden, certainly had a right to the home superior to the Defendant, she did not have "a greater right of possession of the proceeds of the fraudulent loan than defendant". (194 AD2d at 836.)