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What is NYC AC § 28-419.7.3?

Quick Answer

This section addresses the rights of individuals holding a security interest in vehicles or tools that are subject to forfeiture. It allows these individuals to assert a claim in the forfeiture action to satisfy their security interest. Applies to persons with a security interest in forfeitable property.

General informational summary. Not legal advice for your situation. Consult an attorney before acting on any specific matter.

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§ 28-419.7.3 Security interest.

AC § 28-419.7.3

Any person with a security interest in such vehicle or tools who receives notice of the institution of the forfeiture action who claims an interest in such vehicle or tools subject to forfeiture may assert a claim in such action for satisfaction of such person's security interest in such vehicle or tools. Editor's note: For related unconsolidated provisions, see Appendix A at L.L. 2008/008.

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