This text of New York § 1325 (Receiver) 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.
§ 1325. Receiver.
1.Where the action is for the foreclosure of a\nmortgage providing that a receiver may be appointed without notice,\nnotice of a motion for such appointment shall not be required.\n 2. Where a receiver has been appointed, upon the application of the\nplaintiff or of any holder of a certificate evidencing an undivided\ninterest in the mortgage or mortgage debt and upon proof that no answer\nhas been interposed affecting the validity of the mortgage or the amount\ndue thereon, or asserting any prior lien, or asserting a plea of tender\nof payment of the amount due, or which if sustained would affect in any\nway the right of the plaintiff to a judgment in foreclosure and to the\npayment of the amount claimed by the plaintiff in his complaint to be\ndue, the court may dir
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§ 1325. Receiver. 1. Where the action is for the foreclosure of a\nmortgage providing that a receiver may be appointed without notice,\nnotice of a motion for such appointment shall not be required.\n 2. Where a receiver has been appointed, upon the application of the\nplaintiff or of any holder of a certificate evidencing an undivided\ninterest in the mortgage or mortgage debt and upon proof that no answer\nhas been interposed affecting the validity of the mortgage or the amount\ndue thereon, or asserting any prior lien, or asserting a plea of tender\nof payment of the amount due, or which if sustained would affect in any\nway the right of the plaintiff to a judgment in foreclosure and to the\npayment of the amount claimed by the plaintiff in his complaint to be\ndue, the court may direct that the receiver of the rents appointed in\nsuch action apply, during the pendency of the action, the rents received\nby him towards the payment of accrued interest on the mortgage, provided\ndue provision shall have been made for the payment of taxes,\nadministration expenses, fees and charges and such reserve as the court\nmay direct. Any monies so paid over by the receiver shall be deducted\nfrom the amount of the judgment in said action.\n 2-a. Where a receiver has been appointed, the order of appointment\nshall direct the owner or lessee of the mortgaged premises to turn over\nto the receiver all security deposits received by such owner or lessee\nand shall further direct the receiver to hold the security subject to\nsuch disposition thereof as shall be provided in a further order of the\ncourt to be made and entered in the foreclosure action, in accordance\nwith the provisions of section 7-105 of the general obligations law.\n 3. In a city with a population of one million or more persons an order\nappointing a receiver to receive the rents and profits of a multiple\ndwelling shall provide that the receiver:\n (a) register with any municipal department as provided by applicable\nlaw; and\n (b) expend rents and income and profits as described in subdivision\ntwo of this section, except that a priority shall be given to the\ncorrection of immediately hazardous and hazardous violations of housing\nmaintenance laws within the time set by orders of any municipal\ndepartment, or, if not practicable, seek a postponement of the time for\ncompliance.\n