N.Y. Real Property Actions and Proceedings Law 1615 – Date of creation of affected interests
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§ 1615. Date of creation of affected interests. The procedure authorized by sections 1601 through 1614 shall apply equally to interests created on or after September 1, 1937; to interests created before that date but subsequent to the enactment of some statute, replaced by former sections one hundred seven through one hundred seven-m of the real property law, authorizing the like sale, mortgage, lease or other binding of such interests by a judicially authorized conveyance; and to all other interests, whenever created.
Terms Used In N.Y. Real Property Actions and Proceedings Law 1615
- 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.
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
- Statute: A law passed by a legislature.