Terms Used In New York Laws > Public Housing > Article 13 > Title 55 - Mount Kisco Housing Authority

• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Contract: A legal written agreement that becomes binding when signed.
• Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
• Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). ^{Source: OCC}
• Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
• municipality: as used in this article , includes only a city of the second and third class, any county outside the city of New York, a village, town or that part of a town not included within the boundaries of a village. See N.Y. General Municipal Law 240