This text of New York § 702 (Incidental expenses) is published on Counsel Stack Legal Research, covering New York primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
§ 702. Incidental expenses.
(A)The condemnor shall reimburse a\ncondemnee an amount separately computed and stated, representing the\nfollowing incidental expenses:\n (1) any recording fees, transfer taxes and other similar expenses in\nconnection with the acquisition of the property by the condemnor or in\nconnection with the transfer of the property to the condemnor; and\n (2) any penalty incurred by the condemnee for prepayment of any\npreexisting recorded mortgage entered into in good faith, encumbering\nsuch property; and\n (3) the pro rata portion of the real property taxes, water rents,\nsewer rents, special ad valorem taxes and other charges paid or payable\nto a taxing entity which are allocable to a period subsequent to the\ndate of vesting title or the effective date of po
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§ 702. Incidental expenses. (A) The condemnor shall reimburse a\ncondemnee an amount separately computed and stated, representing the\nfollowing incidental expenses:\n (1) any recording fees, transfer taxes and other similar expenses in\nconnection with the acquisition of the property by the condemnor or in\nconnection with the transfer of the property to the condemnor; and\n (2) any penalty incurred by the condemnee for prepayment of any\npreexisting recorded mortgage entered into in good faith, encumbering\nsuch property; and\n (3) the pro rata portion of the real property taxes, water rents,\nsewer rents, special ad valorem taxes and other charges paid or payable\nto a taxing entity which are allocable to a period subsequent to the\ndate of vesting title or the effective date of possession of such\nproperty in the condemnor, whichever is earlier.\n (B) In the event that the procedure to acquire such property is\nabandoned by the condemnor, or a court of competent jurisdiction\ndetermines that the condemnor was not legally authorized to acquire the\nproperty, or a portion of such property, the condemnor shall be\nobligated to reimburse the condemnee, an amount, separately computed and\nstated, for actual and necessary costs, disbursements and expenses,\nincluding reasonable attorney, appraisal and engineering fees, and other\ndamages actually incurred by such condemnee because of the acquisition\nprocedure.\n (C) In the event that a court of competent jurisdiction determines\nthat the condemnor did in fact take property after the condemnor denied\nthat there was any taking of property and made no offer to settle the\nclaim, the condemnor shall be obligated to reimburse a condemnee an\namount, separately computed and stated, for actual and necessary costs,\ndisbursements and expenses, including reasonable attorney, appraiser and\nengineer fees incurred in establishing the de facto taking.\n