N.Y. Rapid Transit Law § 63: Partial payment of awards

§ 63. Partial payment of awards. In any proceeding instituted

pursuant to the provisions of this chapter for the acquisition of title

to property by the city, in which title thereto shall have become vested

in the city by virtue of the entry of an order in compliance with

section sixty-two of this chapter, the city shall be authorized to pay

to the person entitled to an award for property acquired in such

proceeding, in advance of the final determination of his damages, a sum

equal to seventy-five per centum of the assessed valuation of such

property less the liens and encumbrances of record thereon. Before any

such advance payment shall be made the comptroller shall procure the

certificate of the corporation counsel showing that the person to whom

payment is to be made is the person legally entitled to receive the

same. If the city shall authorize a partial payment in advance to any

person entitled to an award, interest on the sum so authorized to be

paid in advance shall cease to run five days after such person shall

have been notified by mail or otherwise that the comptroller is ready to

pay the same. In case the person entitled to an award at the date of the

vesting of title to the property in the city shall have transferred or

assigned his claim, such transfer or assignment made by him, or by his

successor in interest or legal representative, shall not become binding

upon the city unless the instrument evidencing such transfer or

assignment shall have been executed and filed in the office of the

comptroller as provided in this chapter, prior to any such advance

payment. When any such advance payment shall have been made, the

comptroller, on paying the awards made for the property acquired, shall

deduct from the total amount allowed as compensation the sum advanced

plus interest thereon from the date of the payment of such advance to

the date of payment of the final award, and the balance shall be paid as

provided by this article. In case an advance payment shall have been

authorized and the person entitled thereto shall have been notified by

mail or otherwise that the comptroller is ready to make such advance

payment, interest on the amount so authorized to be paid in advance from

a date five days after notification by the comptroller that he is ready

to make such advance payment to the time the person entitled thereto

shall accept such advance payment, shall be deducted by the comptroller

on paying the awards therefor from the total amount allowed as

compensation to such person. Such advance payment shall be made in

accordance with the provisions of section sixty-nine of this chapter.