§ 13-01 Late Payments.
RCNY § 13-01
(a)Application for release of property by the City. Receipt and deposit by the New York City Department of Finance of a payment made with respect to a property that was acquired by the City through in rem foreclosure shall not cause the release of the City's interest in the property unless such payment has been made in compliance with the provisions of § 11-424 of the Administrative Code of the City of New York.
(b)Application to vacate and set aside final judgment for class one and class two properties. If a payment of arrears of real property taxes and other real property related charges is tendered for a property classified as class one or class two under § 1802 of the Real Property Tax Law with respect to which a final judgment in foreclosure has been entered pursuant to § 11-412.1(b) of the Administrative Code of the City of New York more than four months after the date of entry of such final judgment, receipt and deposit by the New York City Department of Finance of any such payment shall not constitute receipt of the payment required to vacate and set aside such final judgment.
