§ 150 Foreclosure of mortgages by the state
§ 151 When comptroller shall bid in premises
§ 152 Conditions of sale
§ 153 Sale in parcels
§ 154 Separate accounts for lands purchased or mortgaged
§ 155 Discharge and cancellation of mortgages by the state
§ 156 Surplus moneys on sale of lands mortgaged to the state
§ 157 Release of part of mortgaged premises
§ 158 Power of comptroller to maintain actions
§ 159 Assignments of mortgages; releases from judgments

Terms Used In New York Laws > State Finance > Article 10 - Mortgages

  • Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
  • Appraisal: A determination of property value.
  • Contract: A legal written agreement that becomes binding when signed.
  • Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
  • Deed: The legal instrument used to transfer title in real property from one person to another.
  • Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. Source: OCC
  • Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
  • Lien: A claim against real or personal property in satisfaction of a debt.
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • Mortgagor: The person who pledges property to a creditor as collateral for a loan and who receives the money.
  • Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
  • Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.