§ 8-01 Scope; Definitions.
RCNY § 8-01
Administrative Code §§ 11-301 et seq. and Administrative Code §§ 11-401 et seq. establish a procedure for sale of tax liens and a procedure for the Commissioner of Finance to deliver a deed conveying a tax delinquent property to a qualified Third Party after final judgment is rendered in an in rem foreclosure action. These rules clarify the circumstances under which certain property may be removed from tax lien sales and how Third Parties may be qualified and selected to acquire property from the Commissioner of Finance pursuant to a judgment rendered in an in rem foreclosure action. Affiliate. "Affiliate" shall mean (a) any Person that has, directly or indirectly, a five percent (5%) or greater ownership interest in a Third Party, or any Person in which a Third Party, any partner or shareholder of a Third Party, or any partner or shareholder of any Person that is a partner or shareholder of a Third Party, has a five percent (5%) or greater ownership interest, and (b) any individual who is a member of the immediate family (whether by birth or marriage) of an individual who is an Affiliate, which includes for purposes of this definition a spouse, a domestic partner as defined in Section 1150(13) of the Charter, a brother or sister of the whole or half blood (including an individual related by or through legal adoption) of such individual or his/her spouse or domestic partner, a lineal descendant or ancestor (including an individual related by or through legal adoption) of any of the foregoing, or a trust for the benefit of any of the foregoing. Ownership of or by a Third Party referred to in this definition includes beneficial ownership effected by ownership of intermediate entities. Distressed Property. "Distressed Property" shall mean any parcel of class one or class two real property that is subject to a tax lien or liens with a lien or liens to value ratio, as determined by the Commissioner of Finance, equal to or greater than fifteen percent and that meets one of the following two criteria: (a) such parcel has an average of five or more hazardous or immediately hazardous violations of record of the Housing Maintenance Code per dwelling unit; or (b) such parcel is subject to a lien or liens for any expenses incurred by HPD for the repair or the elimination of any dangerous or unlawful conditions therein, pursuant to Administrative Code § 27-2144, in an amount equal to or greater than one thousand dollars. HPD. "HPD" shall mean the Department of Housing Preservation and Development. Neighborhood Preservation Consultant. "Neighborhood Preservation Consultant" shall mean an organization under contract with HPD to undertake activities in connection with the Third Party Transfer Process within a particular area. Person. "Person" shall mean any natural person, business entity, trust or estate, or any federal, state, county or municipal government or any bureau, department or agency thereof; and any fiduciary acting in such capacity on behalf of any of the foregoing. Regulatory Agreement. "Regulatory Agreement" shall mean an agreement between HPD and a Third Party selected for conveyance of property pursuant to the Third Party Transfer Process that restricts or conditions the use of such property. Rules. "Rules" shall mean these Rules. Tenants. "Tenants" shall mean legal residential Tenants of a property that is subject to the Third Party Transfer Process. Squatters and other unlawful occupants are not Tenants. Third Party. "Third Party" shall mean an entity or individual that may be deemed qualified and selected by the Commissioner of HPD as eligible to acquire a property pursuant to the Third Party Transfer Process. Third Party Transfer Process. "Third Party Transfer Process" shall mean the process under which certain properties are transferred to Third Parties pursuant to Administrative Code §§ 11-401 et seq. and these Rules.
