N.Y. Public Authorities Law 1286 – Acquisition and disposition of real property
§ 1286. Acquisition and disposition of real property. 1. The corporation may acquire, by purchase, gift, grant, transfer, contract or lease, or by condemnation pursuant to the condemnation law, any real property it may deem necessary, convenient or desirable to effectuate the purposes of this title, provided however, that any such condemnation proceedings shall be brought only in the supreme court and the compensation to be paid shall be ascertained and determined by the court without a jury.
Terms Used In N.Y. Public Authorities Law 1286
- Contract: A legal written agreement that becomes binding when signed.
- 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.
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
- 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.
- 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
- Lien: A claim against real or personal property in satisfaction of a debt.
- Personal property: All property that is not real property.
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
2. Where a person entitled to an award in the proceedings to condemn any real property for any of the purposes of this title remains in possession of such property after the time of the vesting of title in the condemnor, the reasonable value of his use and occupancy of such property subsequent to such time as fixed by agreement or by the court in such proceedings or by any court of competent jurisdiction shall be a lien against such award subject only to the liens of record at the time of vesting of title in the condemnor.
3. Title to all property acquired under this act shall vest in the corporation.
4. Notwithstanding the provisions of any general, special or local law or charter, any municipality, by resolution of its governing body, is hereby empowered without referendum and without the consent of any board, officer or other agency of the state, to sell, lease, lend, grant or convey to the corporation, or to permit the corporation to use, maintain or operate as part of a sewage treatment works or solid waste disposal facility, any real or personal property owned by it, including all or any part of any such facilities, which may be necessary or useful and convenient for the purposes of the corporation and which may be accepted by the corporation. Any such sale, lease, loan, grant, conveyance or permit may be made with or without consideration and for a specified or an unlimited period of time and under any agreement and on any terms and conditions which may be approved by such municipality and which may be agreed to by the corporation in conformity with its contracts with the holders of its bonds and notes, the corporation may enter into and perform any and all agreements with respect to property so accepted by it, including agreements for the operation and maintenance of such property as part of a sewage treatment works, or solid waste disposal facility.
5. The corporation may, whenever it determines that it is in the interest of the corporation, and subject to any existing agreement, dispose of any real property which it determines is not necessary, convenient or desirable for its purposes.
6. The corporation may, whenever it shall determine that it is in the interest of the corporation, rent, lease, or grant easements or other rights in any land or property of the corporation.