New York Deed In Lieu Of Foreclosure.

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    §  11-422 Deed in lieu of foreclosure. The city may when authorized by
  resolution of the board of estimate and in lieu of prosecuting an action
  to foreclose a tax lien on any parcel pursuant to this chapter accept  a
  conveyance  of  the  interest  of  any  person  having any right, title,
  interest, claim, lien or equity of redemption in or to such parcel.