N.Y. Private Housing Finance Law 500 – Acquisition of real property
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§ 500. Acquisition of real property. Real property may be acquired by a housing company, a limited-profit housing company or by a municipality for a housing company or a limited-profit housing company, by gift, grant, devise, purchase, condemnation or otherwise.
Terms Used In N.Y. Private Housing Finance Law 500
- Devise: To gift property by will.
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.