N.Y. Real Prop. Law § 254-D

Current through 2024 NY Law Chapter 553

Section 254-D - Fees by mortgagee for direct payment of real property taxes by mortgagor prohibited

No mortgagor on a loan secured primarily by an interest in real property shall be charged a fee by the mortgagee because the parties have agreed that the mortgagor shall pay real property taxes on such real property directly to the taxing authority or authorities and not in escrow to the mortgagee or the mortgagee's agent.

N.Y. Real Prop. Law § 254-D