N.Y. Real Property Tax Law § 952: Definitions

§ 952. Definitions. When used in this title:

1. "Mortgage investing institution" means any bank, trust company,

national bank, savings bank, savings and loan association, federal

savings bank, federal savings and loan association, private banker,

credit union, federal credit union, investment company, pension fund,

licensed mortgage banker or any other entity which maintains a real

property tax escrow account for real property located in this state.

2. "Mortgagor" means a person having title to and occupying a one to

six family residence which is located in this state and is subject to a

mortgage.

2-a. "Non-mortgagor" means a person having title to and occupying a

one to six family residence which is located in this state and is not

subject to a mortgage.

3. "Real property tax escrow account" means an account established by

contract between a mortgagor of real property improved by a one to six

family residence and the mortgage investing institution having a

mortgage thereon, into which the mortgage investing institution shall

deposit money collected from the mortgagor for the purpose of paying

taxes.

4. "One to six family residence" means property used primarily for

residential purposes for one to six families, including property held in

condominium form of ownership, and which is occupied in whole or in part

by the owner.

5. "Tax" or "taxes" means a charge imposed upon real property by or on

behalf of a county, city, town, village or school district for municipal

or school district purposes, including a special ad valorem levy,

special assessment or any similar charge.