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N.Y. Real Property Actions & Proceedings Law 1341 - Payment into court of amount due

New York Laws > Real Property Actions & Proceedings > Article 13 > § 1341 - Payment into court of amount due


Current as of: 2010

ยง 1341. Payment into court of amount due. Where an action is brought to foreclose a mortgage upon real property upon which any part of the principal or interest is due, and another portion of either is to become due, and the defendant pays into court the amount due for principal and interest and the costs of the action, together with the expenses of the proceedings to sell, if any, the court shall:

    1. Dismiss the complaint without costs against plaintiff, if the payment is made before judgment directing sale; or

    2. Stay all proceedings upon judgment, if the payment is made after judgment directing sale and before sale; but, upon a subsequent default in the payment of principal or interest, the court may make an order directing the enforcement of the judgment for the purpose of collecting the sum then due.

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Questions & Answers: Home Foreclosure

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New York Laws: Home Foreclosure

New York Laws - Not-For-Profit Corporation > Article 16 - Land Banks
New York Laws - Real Property Actions & Proceedings > Article 13 - Action To Foreclose A Mortgage

U.S. Code Provisions: Home Foreclosure

U.S. Code > Title 12 > Chapter 38 - Multifamily Mortgage Foreclosure
U.S. Code > Title 12 > Chapter 38A - Single Family Mortgage Foreclosure

Related Articles: Home Foreclosure

 How to Avoid Foreclosure
 The Foreclosure Process
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