N.Y. Real Property Tax Law 1150 – Agreements by tax districts
§ 1150. Agreements by tax districts. 1. Agreements with other tax districts. All tax districts are hereby authorized to make agreements with one another with respect to any parcel of real property upon which they respectively own tax liens in regard to the disposition of such liens, of the parcel of real property subject thereto and of the avails thereof, including, without limiting the generality of the foregoing, authority to make the agreements referred to in paragraph (b) of subdivision two of section eleven hundred thirty-six of this article, and to make agreements for the disposition of the proceeds of real property upon which tax liens have been extinguished by agreement.
Terms Used In N.Y. Real Property Tax Law 1150
- Lien: A claim against real or personal property in satisfaction of a debt.
- Person: means an individual, a corporation (including a foreign corporation and a municipal corporation), a joint stock association, a partnership, the state, and any other organization, state, government or county which may lawfully own property in the state. See N.Y. Real Property Tax Law 1102
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
- Tax district: means : (a) a county, other than (i) a county for which the cities and towns enforce delinquent taxes pursuant to the county administrative code, or (ii) a county wholly contained within a city;
(b) a city, other than a city for which the county enforces delinquent taxes pursuant to the city charter;
(c) a village, other than a village for which the county enforces delinquent taxes pursuant to section fourteen hundred forty-two of this chapter; or
(d) a town in a county in which towns enforce delinquent taxes pursuant to the county administrative code. See N.Y. Real Property Tax Law 1102
2. Agreements with parties other than tax districts. When a person other than a tax district has any right, title, interest, claim, lien or equity of redemption in any parcel which is the subject of a tax lien, the tax district owning the tax lien may agree with such person that, in lieu of a sale of the property pursuant to paragraph (a) of subdivision two of section eleven hundred thirty-six of this article, the rights of such person shall be released in exchange for a fixed sum or for a share of the proceeds to be obtained upon the sale of such parcel by such tax district.