N.Y. Private Housing Finance Law 95 – Judgments against housing companies not relating to mortgage indebtedness
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§ 95. Judgments against housing companies not relating to mortgage indebtedness. In the event of a judgment against a housing company in any action not pertaining to the collection of a mortgage indebtedness, there shall be no sale of any of the real property of such housing company except upon sixty days' written notice to the commissioner and, if the municipality has made a loan to the housing company, to the municipality in which the project is located. Upon receipt of such notice the commissioner and the municipality shall take such steps as in its judgment may be necessary to protect the rights of all parties.
Terms Used In N.Y. Private Housing Finance Law 95
- 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.