Article 2 Department of Motor Vehicles; Commissioner
Article 2-A Adjudication of Traffic Infractions
Article 2-B Adjudication of Parking Infractions
Article 3 Exemption of Non-Resident Owners and Operators
Article 3-A Administrative Appeals

Terms Used In New York Laws > Vehicle and Traffic > Title 2

  • Affirmed: In the practice of the appellate courts, the decree or order is declared valid and will stand as rendered in the lower court.
  • agency: shall mean any officer, board, commission, department, or other agency of the municipality, or the authority or any other public authority, designated by the local legislative body to carry out the functions vested in the agency under this article or delegated to the agency by the local legislative body in order to carry out the purposes and provisions of this article. See N.Y. Private Housing Finance Law 401
  • Amortization: Paying off a loan by regular installments.
  • Appraisal: A determination of property value.
  • Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
  • Bequeath: To gift property by will.
  • Bondholder: shall mean and include any person, firm, association or corporation owning or holding a mortgage investment. See N.Y. Real Property Law 125
  • Business capital: when used in this chapter shall mean all assets of the unincorporated business other than investment capital, less liabilities of the unincorporated business not deducted from investment capital, except that cash on hand and on deposit shall be treated as investment capital or as business capital as the taxpayer may elect. See N.Y. New York City Administrative Code 11-501
  • Business income: when used in this chapter shall mean unincorporated business entire net income minus investment income. See N.Y. New York City Administrative Code 11-501
  • Commissioner of finance: when used in this chapter shall mean the commissioner of finance of the city. See N.Y. New York City Administrative Code 11-501
  • 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
  • Dealer: when used in this chapter shall mean an individual or unincorporated entity that (A) holds or disposes of property that is stock in trade of the taxpayer, inventory or is otherwise held for sale to customers in the ordinary course of the taxpayer's trade or business, or (B) regularly offers to enter into, assume, offset, assign or otherwise terminate positions in property with customers in the ordinary course of the taxpayer's trade or business, provided, however, an individual or unincorporated entity shall not be treated as a dealer based solely on such individual's or entity's ownership of an interest in an entity that is a dealer, and provided, further, that an unincorporated entity shall not be treated as a dealer based solely on the ownership by a dealer of an interest in that unincorporated entity. See N.Y. New York City Administrative Code 11-501
  • Decedent: A deceased person.
  • Department of finance: when used in this chapter shall mean the department of finance of the city. See N.Y. New York City Administrative Code 11-501
  • 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
  • Docket: A log containing brief entries of court proceedings.
  • Escrow: Money given to a third party to be held for payment until certain conditions are met.
  • Executor: A male person named in a will to carry out the decedent
  • existing multiple dwelling: shall mean any dwelling classified as a multiple dwelling pursuant to the multiple dwelling law including class A and class B multiple dwellings, and in existence on the date upon which an application for a loan pursuant to this article is received by the agency. See N.Y. Private Housing Finance Law 401
  • Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
  • Fee simple: Absolute title to property with no limitations or restrictions regarding the person who may inherit it.
  • Fiscal year: means a period of one year commencing on the first day of July and terminating on the thirtieth day of June. See N.Y. Vehicle and Traffic Law 239
  • Forbearance: A means of handling a delinquent loan. A
  • Grace period: The number of days you'll have to pay your bill for purchases in full without triggering a finance charge. Source: Federal Reserve
  • 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.
  • housing accommodation: as used in this article , shall mean any building or structure which is used or occupied, or is intended to be used or occupied, wholly or partly, as the home or residence of one or more human beings. See N.Y. Private Housing Finance Law 302
  • 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
  • Investment capital: when used in this chapter shall mean investments of the unincorporated business in stocks, bonds and other securities, corporate and governmental (excluding governmental stocks, bonds and other securities the interest or dividends from which are fully exempt from tax under this chapter, other than any such governmental stock, bond or other security which is sold or otherwise disposed of during the taxable year in a transaction which results in a gain or loss which is included in computing unincorporated business entire net income for the taxable year), not held for sale to customers in the regular course of business, provided, however, that in the discretion of the commissioner of finance, there shall be deducted from investment capital any liabilities of the unincorporated business which are directly or indirectly attributable to investment capital. See N.Y. New York City Administrative Code 11-501
  • Investment income: when used in this chapter shall mean income, gains and losses from investment capital, to the extent included in computing unincorporated business entire net income, less, in the discretion of the commissioner of finance, any deductions allowable in computing unincorporated business entire net income which are directly or indirectly attributable to investment capital or investment income, provided, however, that in no case shall investment income exceed unincorporated business entire net income. See N.Y. New York City Administrative Code 11-501
  • Judgement: The official decision of a court finally determining the respective rights and claims of the parties to a suit.
  • Lawsuit: A legal action started by a plaintiff against a defendant based on a complaint that the defendant failed to perform a legal duty, resulting in harm to the plaintiff.
  • Lessee: means any person, corporation, firm, partnership, agency, association or organization that rents, bails, leases or contracts for the use of one or more vehicles and has the exclusive use thereof for any period of time. See N.Y. Vehicle and Traffic Law 239
  • Lessor: means any person, corporation, firm, partnership, agency, association or organization engaged in the business of renting or leasing vehicles to any lessee or bailee under a rental agreement, lease or otherwise, wherein the said lessee or bailee has the exclusive use of said vehicle for any period of time. See N.Y. Vehicle and Traffic Law 239
  • Local income taxes: when used in this chapter shall mean an income tax imposed by a political subdivision of a state. See N.Y. New York City Administrative Code 11-501
  • 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
  • Mortgage loan: A loan made by a lender to a borrower for the financing of real property. Source: OCC
  • Mortgagor: The person who pledges property to a creditor as collateral for a loan and who receives the money.
  • Municipality: shall mean the city, town or village in which a community development corporation conducts or proposes to conduct its activities. See N.Y. Private Housing Finance Law 252
  • Notice of violation: means a notice of violation as defined in subdivision nine of section two hundred thirty-seven of this article, but shall not be deemed to include a notice of liability issued pursuant to authorization set forth in section eleven hundred eleven-a of this chapter, or sections eleven hundred eleven-b of this chapter as added by sections sixteen of chapters twenty, and twenty-two of the laws of two thousand nine, or section eleven hundred eleven-d of this chapter, or section eleven hundred eleven-e of this chapter, or section eleven hundred seventy-four-a of this chapter, and shall not be deemed to include a notice of liability issued pursuant to section two thousand nine hundred eighty-five of the public authorities law and sections sixteen-a, sixteen-b and sixteen-c of chapter seven hundred seventy-four of the laws of nineteen hundred fifty and shall not be deemed to include a notice of liability issued pursuant to section eleven hundred eleven-c of this chapter and shall not be deemed to include a notice of liability issued pursuant to section eleven hundred eighty-b of this chapter and shall not be deemed to include a notice of liability issued pursuant to section eleven hundred eighty-d of this chapter. See N.Y. Vehicle and Traffic Law 239
  • occupancy date: shall mean the date defined in the contract for a loan pursuant to this article between the owner of an existing multiple dwelling and a municipality as the date upon which such multiple dwelling is to be deemed ready for occupancy, or if such term is not defined in such contract, the date of issuance of the temporary certificate of occupancy. See N.Y. Private Housing Finance Law 401
  • Operator: means any person, corporation, firm, partnership, agency, association, organization or lessee that uses or operates a vehicle with or without the permission of the owner, and an owner who operates his own vehicle. See N.Y. Vehicle and Traffic Law 239
  • Oversight: Committee review of the activities of a Federal agency or program.
  • owner: shall mean a person having record title in fee simple to real property or the lessee thereof under a lease having an unexpired term of at least thirty years. See N.Y. Private Housing Finance Law 401
  • Owner: means any person, corporation, partnership, firm, agency, association, lessor, or organization who at the time of the issuance of a notice of violation in any city in which a vehicle is operated:

    (1) is the beneficial or equitable owner of such vehicle; or

    (2) has title to such vehicle; or

    (3) is the registrant or co-registrant of such vehicle which is registered with the department of motor vehicles of this state or any other state, territory, district, province, nation or other jurisdiction; or

    (4) uses such vehicle in its vehicle renting and/or leasing business; or

    (5) is an owner of such vehicle as defined by section one hundred twenty-eight of this chapter or subdivision (a) of section twenty-one hundred one of this chapter. See N.Y. Vehicle and Traffic Law 239

  • persons or families of low income: shall mean "persons of low income" or "families of low income" as defined in section two of this chapter, whose probable aggregate annual income during the period of occupancy does not exceed six times the rental (including the value or cost to them of heat, light, water and cooking fuel) of dwelling units occupied by such persons or families in existing multiple dwellings aided by a loan pursuant to this article, except that in the case of persons or families with three or more dependents, such ratio shall not exceed seven to one, and except further that the income limitations prescribed by this paragraph shall be subject to the provisions of subdivision two of section four hundred three of this article. See N.Y. Private Housing Finance Law 401
  • plan: shall mean agency, urban renewal area and urban renewal plan, respectively, as defined in article fifteen of the general municipal law. See N.Y. Private Housing Finance Law 252
  • Plea: In a criminal case, the defendant's statement pleading "guilty" or "not guilty" in answer to the charges, a declaration made in open court.
  • 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
  • probable aggregate annual income: means the annual income of the chief wage earner of the family, plus all other income of other members of the family over the age of twenty-one years, plus a proportion of income of gainfully employed members under the age of twenty-one years, the proportion to be determined by the agency. See N.Y. Private Housing Finance Law 401
  • Probate: Proving a will
  • Project: shall mean a non-profit capital development project invested with a public interest, including facilities incidental or appurtenant thereto and all lands, buildings and improvements acquired, owned, constructed, maintained or operated pursuant to this article, or any combination thereof. See N.Y. Private Housing Finance Law 252
  • 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
  • Recourse: An arrangement in which a bank retains, in form or in substance, any credit risk directly or indirectly associated with an asset it has sold (in accordance with generally accepted accounting principles) that exceeds a pro rata share of the bank's claim on the asset. If a bank has no claim on an asset it has sold, then the retention of any credit risk is recourse. Source: FDIC
  • Restitution: The court-ordered payment of money by the defendant to the victim for damages caused by the criminal action.
  • Sequester: To separate. Sometimes juries are sequestered from outside influences during their deliberations.
  • Service of process: The service of writs or summonses to the appropriate party.
  • 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
  • state: when used in this chapter shall mean the state of New York. See N.Y. New York City Administrative Code 11-501
  • Tax appeals tribunal: when used in this chapter shall mean the tax appeals tribunal established by section one hundred sixty-eight of the charter. See N.Y. New York City Administrative Code 11-501
  • 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

  • Testator: A male person who leaves a will at death.
  • 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
  • unencumbered: as used in this article , shall have the same meaning as in paragraph six of subsection (a) of section one thousand four hundred four of the insurance law. See N.Y. Private Housing Finance Law 302
  • Unincorporated business entire net income: when used in this chapter shall mean the excess of the unincorporated business gross income of an unincorporated business over its unincorporated business deductions. See N.Y. New York City Administrative Code 11-501
  • Unincorporated entity: when used in this chapter shall include an entity classified as a partnership for federal income tax purposes regardless of whether the entity is formed as a corporation, joint-stock company, joint-stock association, body corporate or body politic or whether the entity is organized under a federal or state statute, or under a statute of a federally recognized Indian tribe, or under a statute of a country other than the United States that describes or refers to the entity as incorporated. See N.Y. New York City Administrative Code 11-501
  • Vehicle: means a vehicle as defined in section one hundred fifty-nine of this chapter. See N.Y. Vehicle and Traffic Law 239
  • Writ: A formal written command, issued from the court, requiring the performance of a specific act.