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2006 New York Code - Mortgagee May Purchase At Foreclosure Sale.



 
    §  151.  Mortgagee may purchase at foreclosure sale.  Any mortgagee of
  the property and franchises of any railroad corporation may  become  the
  purchaser  of  the  same  at  any  sale thereof under the mortgage, upon
  foreclosure by  advertisement,  or  under  a  judgment,  or  decree,  or
  otherwise, and hold and use the same, with all the rights and privileges
  belonging  thereto  or connected therewith for the period of six months,
  and convey the same to any railroad corporation.

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