Terms Used In New York Laws > Real Property Tax > Article 4 > Title 2-A - Railroad Real Property of Intrastate Railroad Companies

• 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.
• Answer: The formal written statement by a defendant responding to a civil complaint and setting forth the grounds for defense.
• Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.
• Appraisal: A determination of property value.
• Arrest: Taking physical custody of a person by lawful authority.
• Assessing unit: means a city, town or village. See N.Y. Real Property Tax Law 489-B
• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
• Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
• Contract: A legal written agreement that becomes binding when signed.
• Conviction: A judgement of guilt against a criminal defendant.
• 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.
• Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. ^{Source: U.S. Courts}
• Fraud: Intentional deception resulting in injury to another.
• Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
• 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.
• Lien: A claim against real or personal property in satisfaction of a debt.
• Mortgagee: The person to whom property is mortgaged and who has loaned the money.
• Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
• Personal property: All property that is not real property.
• Railroad company: means a corporation, joint stock company, association, partnership, individual or other person operating a railroad system wholly within the state of New York as a common carrier by rail, including but not limited to a street, surface, underground or elevated railroad, whether as owner, lessee, mortgagee, trustee, receiver or assignee of railroad real property. See N.Y. Real Property Tax Law 489-B
• Railroad real property: means the land, real estate and real property (as defined in subdivision twelve of section one hundred two of this chapter) of a railroad company, which is used by such railroad company for transportation purposes and which is subject to real property taxation except as provided in this title, and includes (a) such property leased to such railroad company, (b) such property used for transportation purposes by such railroad company under a trackage right or other operating agreement, title to which is in other than a railroad company, as defined in subdivision two of this section and subdivision two of section four hundred eighty-nine-bb of this chapter, (c) such property used or occupied by such railroad company, title to which is in the state or in any municipal corporation thereof under any of the grade crossing elimination acts, and (d) such tangible property of such railroad company situated in, upon, under or above any street, highway, public place or public waters; but does not include the value of any franchise, right or permission to construct, maintain or operate, in, under, above, on or through, streets, highways or public places. See N.Y. Real Property Tax Law 489-B
• Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
• taxation: means an ad valorem charge or special ad valorem levy imposed upon real property by or on behalf of a county, city, town, village, school district or special district. See N.Y. Real Property Tax Law 489-B
• Trustee: A person or institution holding and administering property in trust.