N.Y. Real Property Tax Law 1120 – Foreclosure by proceeding in rem
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§ 1120. Foreclosure by proceeding in rem. 1. A proceeding to foreclose a tax lien shall be commenced in the manner provided in this title.
Terms Used In N.Y. Real Property Tax Law 1120
- Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. Source: OCC
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- Lien: A claim against real or personal property in satisfaction of a debt.
2. The supreme court and the county court shall have concurrent jurisdiction over such proceedings.