§ 124 Purpose and Application of Article
§ 125 Definitions
§ 126 Trust Indentures
§ 127 Restrictions On Trustees
§ 128 Minimum Bid of Trustee At Sale On Foreclosure to Be Fixed by Court
§ 130-A Restrictions On Committees
§ 130-B Managing Agents and Management Companies
§ 130-C Voting Trustees and Voting Trust Agreements
§ 130-D Fees and Allowances
§ 130-E Removal of Trustees, Committees or Depositaries
§ 130-F Actions for Accounting by Minority Groups; Expenses Thereof
§ 130-G Violations and Penalties
§ 130-H Construction of Article
§ 130-I Separability
§ 130-J Right to Appeal
§ 130-K Exemptions From Restrictions On Trustees and Trust Indentures

Terms Used In New York Laws > Real Property > Article 4-A

  • 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.
  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Bondholder: shall mean and include any person, firm, association or corporation owning or holding a mortgage investment. See N.Y. Real Property Law 125
  • Committee: shall mean and include a person or group of persons, however known or designated, appointed by agreement, assignment, proxy, consent, authorization, power of attorney, or other similar instrument to act as an agency to receive and hold mortgage investments deposited by bondholders and to administer or do any act in respect to the same for the bondholders. See N.Y. Real Property Law 125
  • Deed: The legal instrument used to transfer title in real property from one person to another.
  • Depositary: shall mean and include any person, firm, association or corporation designated in any trust indenture, deed of trust, or deposit agreement as the custodian or depositary of mortgage investments. See N.Y. Real Property Law 125
  • Executor: A male person named in a will to carry out the decedent
  • Forbearance: A means of handling a delinquent loan. A
  • 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
  • Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
  • Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. Source: OCC
  • Lien: A claim against real or personal property in satisfaction of a debt.
  • Misdemeanor: Usually a petty offense, a less serious crime than a felony, punishable by less than a year of confinement.
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • Mortgage investments: shall mean and include any and all shares and interests, heretofore or hereafter acquired, in an issue of bonds, notes or other evidence of indebtedness of individuals, partnerships, associations or corporations, held by more than one person and secured by a mortgage or mortgages upon real property, or by a deed or deeds of trust, trust indenture or indentures or other evidence of interest in real property, the payment of which is not guaranteed by any title and mortgage guaranty corporation or investment company and shall include certificates of deposit issued by or on behalf of a bondholders' protective committee or similar group and also any bonds, notes or other evidences of indebtedness taken in lieu of such real property by foreclosure or otherwise, provided, however, that it shall not include industrial securities. See N.Y. Real Property Law 125
  • Mortgagor: The person who pledges property to a creditor as collateral for a loan and who receives the money.
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • Personal property: All property that is not real property.
  • Plaintiff: The person who files the complaint in a civil lawsuit.
  • Power of attorney: A written instrument which authorizes one person to act as another's agent or attorney. The power of attorney may be for a definite, specific act, or it may be general in nature. The terms of the written power of attorney may specify when it will expire. If not, the power of attorney usually expires when the person granting it dies. Source: OCC
  • Property: shall mean and include all of the real property or any incidental personal property constituting the underlying security for mortgage investments. See N.Y. Real Property Law 125
  • 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.
  • Sequester: To separate. Sometimes juries are sequestered from outside influences during their deliberations.
  • sewer rents: when used in this chapter shall mean any rents or charges imposed pursuant to section 24-514 of the code or pursuant to the New York city municipal water finance authority act, which is set forth in title two-A of article five of the public authorities law. See N.Y. New York City Administrative Code 11-301
  • sewer surcharges: when used in this chapter shall mean the charges imposed pursuant to section 24-523 of the code or pursuant to the New York city municipal water finance authority act, which is set forth in title two-A of article five of the public authorities law. See N.Y. New York City Administrative Code 11-301
  • tax lien: when used in this chapter shall mean the lien arising pursuant to the provisions of this chapter or pursuant to the New York city municipal water finance authority act, which is set forth in title two-A of article five of the public authorities law, as a result of the nonpayment of taxes, assessments, sewer rents, sewer surcharges, water rents, any other charges that are made a lien subject to the provisions of this chapter, the costs of any advertisements and notices given pursuant to this chapter, any other charges that are due and payable, a surcharge pursuant to section 11-332 of this chapter if the tax lien is sold, interest and penalties thereon and the right of the city to receive such amounts. See N.Y. New York City Administrative Code 11-301
  • tax lien certificate: when used in this chapter shall mean the instrument evidencing a tax lien and executed by the commissioner of finance or his

    or her designee at such time as such lien is transferred to a purchaser upon sale of such lien by the city. See N.Y. New York City Administrative Code 11-301

  • Trustee: shall mean and include any person, firm, association or corporation named, appointed or designated as such in any deed of trust, trust indenture or other similar instrument or any successor of such trustee. See N.Y. Real Property Law 125