N.Y. Public Authorities Law 1225-K – Title to property
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§ 1225-k. Title to property. Title to any transit facility leased to the fund by the transportation authority pursuant to this title shall, on the expiration or termination of such lease, vest in the city.
Terms Used In N.Y. Public Authorities Law 1225-K
- 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