N.Y. Real Property Actions and Proceedings Law 1612 – Report of agreement for confirmation
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§ 1612. Report of agreement for confirmation. Before a mortgage, lease or sale is made pursuant to a final order described in section 1609, the trustee or referee must enter into an agreement therefor, subject to the approval of the court, and must report this agreement to the court under oath.
Terms Used In N.Y. Real Property Actions and Proceedings Law 1612
- 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
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Oath: A promise to tell the truth.
- Trustee: A person or institution holding and administering property in trust.