2006 New York Code - Distribution Of Proceeds Of Sale.

 
    * §  1413.  Distribution  of  proceeds of sale. 1. The proceeds of the
  sale shall be distributed and paid by the person conducting the sale  in
  the following order:
    (a) All taxes, water rates, sewer rents and assessments that are liens
  upon  the  real property sold, and any liens or encumbrances placed by a
  city agency or a municipality upon the real property that have  priority
  over the foreclosed mortgage.
    (b)  The  costs and expenses of the sale, pursuant to section fourteen
  hundred seventeen of this article.
    (c) To the  mortgagee,  the  amount  of  the  debt,  accrued  interest
  thereon,  late  charges,  and  all  other sums advanced by the mortgagee
  which are recoverable under the mortgage, including the  costs  of  sale
  and  reasonable attorneys' fees and disbursements, or so much thereof as
  the proceeds will pay. The person conducting the  sale  shall  take  the
  affidavit of the mortgagee as to all of the foregoing amounts being due,
  and  the  receipt  of the mortgagee for the amount so paid, and file the
  same with the report of sale.
    (d) Upon entry of  an  order  pursuant  to  section  fourteen  hundred
  eighteen  of  this  article  providing  for  same,  to the holder of any
  subordinate mortgage  or  lien,  or  to  the  owner  of  the  equity  of
  redemption  or  any  person  or  entity  having  filed a notice of claim
  against the property, from the then remaining proceeds the  amount  then
  due to such person or entity, in the priority thereof, or so much as the
  then remaining proceeds will pay.
    2.  All  surplus  moneys  arising  from  the sale after payment of the
  amounts due under paragraphs (a), (b) and (c) of subdivision one of this
  section shall be paid to the county treasurer for the  county  in  which
  the  sale  took place by the person conducting the sale within five days
  after the same shall be received, in like manner and with like effect as
  if the proceeding to foreclose the mortgage occurred pursuant to article
  thirteen of this chapter.
    * NB Repealed July 1, 2009