N.Y. Real Property Law 276 – Effect of certain easements on the right to invest in mortgages
Current as of: 2024 | Check for updates
|
Other versions
§ 276. Effect of certain easements on the right to invest in mortgages. The existence of an easement in real property acquired or reserved by a municipal corporation, a railroad corporation or other transportation corporation, shall not be deemed an encumbrance upon such real property under any law relating to investments in mortgages upon real property by corporations, trustees, executors, administrators, guardians or other persons holding trust funds, but the effect of such an easement upon the real property which it affects, shall be taken into consideration in determining the value thereof.
Terms Used In N.Y. Real Property Law 276
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.