2006 New York Code - Interest; Suspension

 
    §  514.  Interest;  suspension.  (A) Subject to the provisions of this
  chapter, a condemnee shall be entitled to lawful interest from the  date
  of  acquisition  to  the  date  of payment. If it is determined that the
  condemnor has in fact acquired the property  prior  to  or  without  the
  filing  of an acquisition map as provided in section four hundred two of
  this law, a condemnee shall be entitled to lawful interest from the date
  of such acquisition. Where the condemnor has made an advance payment  or
  has  deposited  all or any part of the compensation owing to a condemnee
  in an interest  bearing  account,  or  in  the  eminent  domain  account
  established  pursuant  to  section  ninety-seven-dd of the state finance
  law, the condemnor's obligation to pay interest on the amount so paid or
  deposited shall terminate as of the date of such payment or deposit.
    (B) In all acquisitions under subdivision (A) of section five  hundred
  one, unless a condemnee files and serves his claim against the condemnor
  for  damages  arising  from  the acquisition of his property, within six
  months after accrual of such claim, or within six months after  personal
  service  of  the  notice of acquisition upon the condemnee, whichever is
  later,  interest  shall  be  suspended;  interest  so  suspended   shall
  thereafter  again commence to accrue upon the date of the filing of such
  claim.
    (C) If an appeal is taken by  the  condemnor  or  the  condemnee,  the
  condemnor  shall  pay  such portion of the award of the court from which
  appeal has not been  taken  upon  proof  of  a  condemnee's  entitlement
  thereto.
    (D)  Where  an  appeal  has  been  taken  by either a condemnee or the
  condemnor or by both from all or part of an  award  of  the  court,  the
  condemnor  may  deposit in a special interest bearing account all or any
  part of the amount directed to be paid  in  the  award  other  than  any
  advance  payment  already  made including the amount required to be paid
  pursuant to subdivision (C) hereof. Interest  on  the  amount  deposited
  shall   not  be  allowed  from  the  expiration  of  twenty  days  after
  notification in writing  by  the  condemnor  to  the  condemnee  or  his
  attorney,  that  the  condemnor  is ready and willing to pay said amount
  upon proof of entitlement thereto, such as vouchers and instruments. Any
  such deposit or payment shall be without prejudice to the rights of  the
  condemnor or the condemnee on such appeal.