N.Y. Real Property Actions & Proceedings Law Section 1361
Application for surplus

  • reference

1.

Any person claiming the surplus moneys arising upon the sale of mortgaged premises, or any part thereof, either in his own name, or by his attorney, at any time before the confirmation of the report of sale, may file with the clerk in whose office the report of sale is filed, a written notice of such claim, stating the nature and extent of his claim and the address of himself or his attorney.

2.

On the motion for confirmation, or at any time within three months thereafter, on notice to all parties who have appeared in the action or filed claims, on motion of any party to the action, or any person who has filed a notice of claim on the surplus moneys, the court, by reference or otherwise, shall ascertain and report the amount due to him or any other person who has a lien on such surplus moneys, and the priority of the several liens thereon and order distribution of surplus moneys.

3.

The owner of the equity of redemption, or any party who has appeared in the action or any person who files a notice of claim or who has a recorded lien against the property shall be given notice by mail or in such other manner as the court shall direct, to attend any hearing on disposition of surplus money.

Source: Section 1361 — Application for surplus; reference, https://www.­nysenate.­gov/legislation/laws/RPA/1361 (updated Sep. 22, 2014; accessed Dec. 21, 2024).

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Accessed:
Dec. 21, 2024

Last modified:
Sep. 22, 2014

§ 1361’s source at nysenate​.gov

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