2014 New York Laws
RPA - Real Property Actions & Proceedings
Article 13 - (1301 - 1391) ACTION TO FORECLOSE A MORTGAGE
1341 - Payment into court of amount due.

NY Real Prop Actions L § 1341 (2014) What's This?

1341. Payment into court of amount due. Where an action is brought to foreclose a mortgage upon real property upon which any part of the principal or interest is due, and another portion of either is to become due, and the defendant pays into court the amount due for principal and interest and the costs of the action, together with the expenses of the proceedings to sell, if any, the court shall:

1. Dismiss the complaint without costs against plaintiff, if the payment is made before judgment directing sale; or

2. Stay all proceedings upon judgment, if the payment is made after judgment directing sale and before sale; but, upon a subsequent default in the payment of principal or interest, the court may make an order directing the enforcement of the judgment for the purpose of collecting the sum then due.

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