Closings glossary
Certificate of Correction
The filing that certifies to a City agency that a cited condition has been corrected. Acceptance by the agency, not the repair itself, is what closes the violation in the record.
What is a Certificate of Correction?
Quick Answer
The full definition
The filing that certifies to a City agency that a cited condition has been corrected. Acceptance by the agency, not the repair itself, is what closes the violation in the record.
Where does certificate of correction come up in a New York City closing?
A Manhattan owner replaced missing smoke alarms in March but never filed, so the violation still reads open at the June closing and money is escrowed for it.
What else should you read before closing?
In the glossary
- Violation (cited against the premises)An agency record that a condition at a property does not comply with a code or rule. It attaches to the premises and follows the property through a...
- ECB judgmentThe judgment entered on an unpaid or defaulted summons heard at OATH (formerly ECB). It is a collectible City debt tied to the respondent and to th...
- OATH Hearings DivisionThe City tribunal, OATH (formerly ECB), that adjudicates summonses from most New York City enforcement agencies. Unpaid or defaulted summonses beco...
- Open permitA DOB permit filed for work that was never signed off. Closing it usually means a licensed professional filing for inspection or formally withdrawi...
- Escrow (at closing)Funds or documents held by a neutral party until stated conditions are satisfied. At a New York closing it usually means a holdback from proceeds u...
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