§ 514. Interest; suspension.
(A)Subject to the provisions of this\nchapter, a condemnee shall be entitled to lawful interest from the date\nof acquisition to the date of payment. If it is determined that the\ncondemnor has in fact acquired the property prior to or without the\nfiling of an acquisition map as provided in section four hundred two of\nthis law, a condemnee shall be entitled to lawful interest from the date\nof such acquisition. Where the condemnor has made an advance payment or\nhas deposited all or any part of the compensation owing to a condemnee\nin an interest bearing account, or in the eminent domain account\nestablished pursuant to section ninety-seven-dd of the state finance\nlaw, the condemnor's obligation to pay interest on the amount so paid or\ndeposited shall t
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§ 514. Interest; suspension. (A) Subject to the provisions of this\nchapter, a condemnee shall be entitled to lawful interest from the date\nof acquisition to the date of payment. If it is determined that the\ncondemnor has in fact acquired the property prior to or without the\nfiling of an acquisition map as provided in section four hundred two of\nthis law, a condemnee shall be entitled to lawful interest from the date\nof such acquisition. Where the condemnor has made an advance payment or\nhas deposited all or any part of the compensation owing to a condemnee\nin an interest bearing account, or in the eminent domain account\nestablished pursuant to section ninety-seven-dd of the state finance\nlaw, the condemnor's obligation to pay interest on the amount so paid or\ndeposited shall terminate as of the date of such payment or deposit.\n (B) In all acquisitions under subdivision (A) of section five hundred\none, unless a condemnee files and serves his claim against the condemnor\nfor damages arising from the acquisition of his property, within six\nmonths after accrual of such claim, or within six months after personal\nservice of the notice of acquisition upon the condemnee, whichever is\nlater, interest shall be suspended; interest so suspended shall\nthereafter again commence to accrue upon the date of the filing of such\nclaim.\n (C) If an appeal is taken by the condemnor or the condemnee, the\ncondemnor shall pay such portion of the award of the court from which\nappeal has not been taken upon proof of a condemnee's entitlement\nthereto.\n (D) Where an appeal has been taken by either a condemnee or the\ncondemnor or by both from all or part of an award of the court, the\ncondemnor may deposit in a special interest bearing account all or any\npart of the amount directed to be paid in the award other than any\nadvance payment already made including the amount required to be paid\npursuant to subdivision (C) hereof. Interest on the amount deposited\nshall not be allowed from the expiration of twenty days after\nnotification in writing by the condemnor to the condemnee or his\nattorney, that the condemnor is ready and willing to pay said amount\nupon proof of entitlement thereto, such as vouchers and instruments. Any\nsuch deposit or payment shall be without prejudice to the rights of the\ncondemnor or the condemnee on such appeal.\n