Search OpenLegislation Statutes

This entry was published on 2014-09-22
The selection dates indicate all change milestones for the entire volume, not just the location being viewed. Specifying a milestone date will retrieve the most recent version of the location before that date.
Foreclosure and other remedies
Municipal Housing Authorities (MHA) CHAPTER ROOT, ARTICLE 5
* § 75. Foreclosure and other remedies. 1. In an action to foreclose a
mortgage on real property of an authority, the authority and the
municipality, in addition to all other necessary parties, shall be made
parties defendant and shall take such steps in said action as may be
necessary to protect the public interest therein and no costs shall be
awarded against them. Wherever under the instrument creating a lien a
notice of default in writing is required to be served upon an authority
before the institution of foreclosure proceedings, a copy of such notice
shall be served upon the municipality before the institution of such
proceedings. At such a sale of the property of the authority pursuant
to foreclosure or other proceedings, the municipality may purchase the
property affected.

2. In addition to any other rights and remedies, but subject to such
limitations as may be made by contract, any lessor or mortgagee, or any
trustee designated in the bonds of an authority or under a mortgage or
indenture executed by an authority as security for its bonds may: (a) by
mandamus or other suit, action or proceedings at law or in equity compel
the authority to perform each and every term, provision and covenant
contained in any agreement of the authority with such trustee, mortgagee
or lessor and require the performance of any or all such covenants and
agreements of the authority and of the duties imposed upon the authority
by this article;

(b) by action or suit in equity, enjoin any acts or things which may
be unlawful or in violation of the rights of such trustee, mortgagee or

(c) by suit, action or proceedings in any court of competent
jurisdiction compel possession of any project or any part thereof to be
surrendered to such trustee, mortgagee or lessor having the right to
such possession under any agreement with the authority;

(d) by suit, action or proceedings in any court of competent
jurisdiction obtain the appointment of a receiver of any project of the
authority or any part thereof and of the rents and profits therefrom. If
such receiver be appointed, he may enter and take possession of such
project or any part or parts thereof and operate and maintain same, and
collect and receive all fees, rents, revenues, or other charges
thereafter arising therefrom in the same manner as the authority itself
might do, and shall keep such monies in a separate account or accounts
and apply the same in accordance with the obligations of the authority
as the court shall direct;

(e) by action or suit in equity require an authority to account as if
it were the trustee of an express trust.

* NB The text of Article 5 of the former State Housing Law (cited
herein as the "Municipal Housing Authorities Law"), as such article
existed immediately prior to its repeal pursuant to section 227 of
Chapter 808 of the Laws of 1939, is provided here for ease of reference
and historical purposes as such text continues to be applicable for the
New York City Housing Authority pursuant to the provisions of section
401 of the current Public Housing Law.