§ 55 — Offer to pay money into court, or to deposit securities, in discharge of the lien

New York § 55

• Jurisdiction: New York
• Law LIE: Lien
• Art. 3: Enforcement of Liens On Real Property

Text

§ 55. Offer to pay money into court, or to deposit securities, in\ndischarge of the lien. At any time after an action is brought under the\nprovision of this article, the owner may make and file with the clerk\nwith whom the notice of lien is filed, if in a court of record, and if\nin a court not of record, with the court, an offer to pay into court the\nsum of money stated therein, or to execute and deposit securities which\nhe may describe, in discharge of the lien, and serve upon the plaintiff\na copy of such offer. If a written acceptance of the offer is filed with\nsuch clerk, or court, within ten days after its service, and a copy of\nthe acceptance is served upon the party making the offer, the court,\nupon proof of such offer and acceptance, may make an order, that on\ndepositing with such clerk, or court, the sum so offered, or the\nsecurities described, the lien shall be discharged, and that the money\nor securities deposited shall take the place of the property upon which\nthe lien existed, and shall be subject to the lien. If the offer is of\nmoney only, the court, on application and notice to the plaintiff may\nmake such order, without the acceptance of the offer by the plaintiff.\nIf such action is brought in a court not of record, such order may be\nmade by the county court of the county where such action is brought upon\nnotice, and upon filing such order and depositing such sum of money or\nsecurities with the county clerk of such county, he shall forthwith\ndischarge said notice of lien, by writing upon the margin of the record\nthereof, the words "discharged by payment." Money or securities\ndeposited upon the acceptance of an offer pursuant to this section shall\nbe held by the clerk or the court until the final determination of the\naction, including an appeal.\n