§ 1195 — Definitions

§ 1195. Definitions. In addition to the definitions set forth in\nsection eleven hundred two of this article, for purposes of this title:\n 1. "Former homeowner" means a person or persons who lost title to\nand/or ownership of residential property due to a tax foreclosure.\n 2. "Public sale" means a sale resulting from a public auction\nconducted in accordance with the provisions of section two hundred\nthirty-one of the real property actions and proceedings law.\n 3. "Surplus" means the net gain, if any, realized by the tax district\nupon the sale of tax-foreclosed property, as determined in the manner\nset forth in section eleven hundred ninety-six of this title. Where no\nsuch gain was realized, no surplus shall be attributable to that sale.\n 4. "Tax-foreclosed property" means a parcel as to which a judgment of\nforeclosure has been issued pursuant to section eleven hundred\nthirty-six of this article.\n