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What is NYC RCNY § 45-04?

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The Departments of Finance and Housing Preservation and Development may review the qualifications of any potential bidder prior to any foreclosure sale pursuant to Administrative Code § 11-354 to determine whether any such potential bidder qualifies as a responsible bidder in accordance with this chapter.

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

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§ 45-04 Pre-Approval of Responsible Bidders.

RCNY § 45-04

The Departments of Finance and Housing Preservation and Development may review the qualifications of any potential bidder prior to any foreclosure sale pursuant to Administrative Code § 11-354 to determine whether any such potential bidder qualifies as a responsible bidder in accordance with this chapter.

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