2006 New York Code - Vesting Of Title; Effect Of, Upon Real Property Contracts.

 
    § 5-335  Vesting of title; effect of, upon real property contracts. a.
  Where  the  whole  of any lot or parcel of real property, under lease or
  other contract,  shall  be  taken,  all  the  covenants,  contracts  and
  engagements between landlord and tenant or any other contracting parties
  touching the same, or any part thereof, upon the vesting of title in the
  city, shall cease and determine and be absolutely discharged. Where part
  only  of  any  lot  or  parcel  of real property so under lease or other
  contract shall be so taken, all contracts and engagements respecting the
  same, upon such vesting of title,  shall  cease  and  determine  and  be
  absolutely discharged, as to the part thereof so taken, but shall remain
  valid and obligatory as to the residue thereof.
    b.  All  persons  in  possession  of  such premises at the time of the
  vesting of title thereto in the city, shall at the option  of  the  city
  become  tenants  at  will  of  such  city  and shall, unless the parties
  otherwise agree in writing, pay the  same  rent  in  effect  immediately
  prior to vesting of title or unless within ten days after the vesting of
  title they shall elect to vacate and give up their respective holdings.
    c. Where a person or persons in possession of the premises at the time
  of  vesting  of  title  thereto  are  the owners thereof, such person or
  persons shall at the option of the city become tenants at will  of  such
  city, unless within ten days after the vesting of title they shall elect
  to  vacate and give up their holdings. Where such person or persons fail
  to vacate and give up their holdings, and become tenants at will of  the
  city as herein provided, such person or persons shall pay the reasonable
  value for the use and occupancy of the premises.
    d.  Where  a  person  in  possession  is  entitled to an award in such
  proceeding the rental as provided in subdivision b and the sum fixed for
  use and occupation as provided  in  subdivision  c  herein,  during  the
  period  between the date of vesting of title in the city and the date of
  the actual payment of the award, shall be a  lien  against  such  award,
  subject  only  to liens of record at the time of the vesting of title in
  the city.