N.Y. Lien Law 44-A – Foreclosure of mortgage; lienors defendants
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§ 44-a. Foreclosure of mortgage; lienors defendants. In an action to foreclose a mortgage upon such real property only such persons who shall have filed notices of lien prior to the filing of the notice of lis pendens in such action shall be deemed to be necessary parties to such action.
Terms Used In N.Y. Lien Law 44-A
- 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
- Lien: A claim against real or personal property in satisfaction of a debt.
- 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.