N.Y.
Real Property Tax Law Section 1114
Redemption of a partial interest
1.
A person having an interest in a specific or an undivided part of any parcel subject to a delinquent tax lien, or in an undivided share in any parcel out of which an undivided part is subject to such lien, may redeem such part or share by paying the portion of the total amount required for redemption as is in proportion to the portion of the taxable assessed value of such property attributable to such interest.2.
Such payment shall be accompanied by an apportionment of such taxable assessed value prepared by the assessor of the assessing unit in which such property is located in the manner prescribed by § 932 (Payment of taxes on part of a parcel of real property)section nine hundred thirty-two of this chapter, or such other law as may be applicable, and the rules of the commissioner relating thereto.3.
When a partial interest is redeemed in a parcel which has been included on a list of delinquent taxes that has been filed pursuant to § 1122 (Filing of list of delinquent taxes)section eleven hundred twenty-two of this article, but some or all of the remainder of the parcel remains unredeemed, the enforcing officer shall, upon request, issue a certificate of redemption, describing the part or share of the parcel so redeemed as it was described on the apportionment provided by the assessor pursuant to the applicable law and rules. Upon the filing of such certificate with the county clerk, the county clerk shall enter on such list the notation “partially redeemed” and the date of the filing, opposite the description of such parcel. The notation “partially redeemed” shall have no effect upon the notice of pendency relating to the portion of the parcel on which taxes remain unpaid.
Source:
Section 1114 — Redemption of a partial interest, https://www.nysenate.gov/legislation/laws/RPT/1114 (updated Sep. 22, 2014; accessed Dec. 21, 2024).
