NYC Tax liens

[Edward S. Feldman]

Client has second mortgage.  NYC taxes are in serious arrears but first mortgagee (who already has foreclosure going) is not going to pay them.  I know that in other municipalities you can purchase the real estate tax liens from the municipality and then foreclose the superior lien wiping out mortgages, etc.  In NYC it seems that you cannot purchase the tax lien, which has been assigned to the Bank of New York trust.  What happens if the second mortgagee seeks to protect its interest by paying the tax lien – is there a way that party can leapfrog over the first mortgage?

 

Edward S. Feldman, Esq. Attorney at Law FELDMAN & ASSOCIATES, PLLC 33 East 33rd Street Suite 802 New York, New York 10016 N.J.OFFICE: 318 Bergen Boulevard Palisades Park, New Jersey 07650 efel...@feldmanandassociates.com tel: NJ tel: fax: 212-685-2277 ext 15 201-906-7877 212-725-2798

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