|§ 5-601||Interest On Deposits in Escrow With Mortgage Investing Institutions|
|§ 5-602||Interest On Insurance Draft Deposits in Escrow With Mortgage Investing Institutions|
Terms Used In New York Laws > General Obligations > Article 5 > Title 6
- Contract: A legal written agreement that becomes binding when signed.
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Escrow: Money given to a third party to be held for payment until certain conditions are met.
- 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.
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
- Trustee: A person or institution holding and administering property in trust.