N.Y. Private Housing Finance Law 302 – Definitions
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§ 302. Definitions. 1. The term "housing accommodation," as used in this article, shall mean any building or structure which is used or occupied, or is intended to be used or occupied, wholly or partly, as the home or residence of one or more human beings.
Terms Used In N.Y. Private Housing Finance Law 302
- housing accommodation: as used in this article , shall mean any building or structure which is used or occupied, or is intended to be used or occupied, wholly or partly, as the home or residence of one or more human beings. See N.Y. Private Housing Finance Law 302
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
2. The term "improved real property," as used in this article, shall include real property upon which a housing accommodation is to be built, in whole or in part, out of the proceeds of the loan, which when completed will constitute a permanent improvement.
3. The terms "encumbered" and "unencumbered," as used in this article, shall have the same meaning as in paragraph six of subsection (a) of § 1404 of the insurance law.