2023 New York Laws › RPT - Real Property Tax › Article 9 - Levy and Collection of Taxes › Title 3-A - Real Property Tax Escrow Accounts › 955 - Payments by Mortgage Investing Institutions; Receipts.

§  955.  Payments  by  mortgage investing institutions; receipts. 1. A
  mortgage investing institution which receives moneys  from  a  mortgagor
  for  deposit  into a real property tax escrow account shall be liable to
  such mortgagor, upon failure to pay such taxes, for the  amount  of  the
  taxes plus penalties and interest imposed thereon.
2. A mortgage investing institution may pay the taxes due on more than
  one   parcel   by  a  single  instrument,  provided  the  instrument  is
  accompanied by a detailed list of the  specific  parcels  to  which  the
  instrument  is  to be applied, each parcel identification number and the
  amount of tax to be paid with respect to each parcel. If the face  value
  of  the  instrument  is  at least equal to the total intended payment as
  indicated by such list, but the total intended payment  does  not  equal
  the  total  amount of taxes actually due on the parcels on the list, the
  collecting officer shall accept the instrument and record  as  paid  the
  taxes  due  on  each parcel for which the amount offered as set forth in
  such list is at least equal to the amount due on such parcel.  The  lien
  on  each  remaining  parcel  on  such  list  shall  not be discharged or
  diminished by the acceptance of such instrument. The collecting  officer
  shall  forthwith  advise the mortgage investing institution or its agent
  that the taxes  on  the  remaining  parcels  remain  unpaid,  and  shall
  identify  the  parcels  on  the list upon which taxes remain unpaid. The
  amount of the tender which has not been applied to the payment of  taxes
  shall be either retained to be applied toward tax payments or refunded.
3.  No  later than three weeks after a tax has been paid by a mortgage
  investing institution pursuant to this  title,  the  collecting  officer
  shall  deliver,  mail,  or,  subject  to  the  provisions of section one
  hundred four of this chapter, transmit electronically a receipt  to  the
  mortgagor  for  whom the real property tax escrow account is maintained.
  Each such receipt shall be in the same format as a statement  of  taxes,
  except  that  the  word  "Paid" (or an equivalent word or words) and the
  date of payment shall be clearly displayed thereon. The receipt may also
  display, if the collecting  officer  so  elects,  the  name,  title  and
  signature  (or  initials) of the collecting officer or of the authorized
  subordinate who received the payment.
4. Notwithstanding the provisions of any other law  to  the  contrary,
  and except in a school district, if a mortgage investing institution has
  failed  to pay the taxes of its mortgagor by the date the warrant of the
  collecting officer expires, the collecting  officer  shall  provide  the
  name   of  such  mortgage  investing  institution  with  the  return  of
  delinquent taxes delivered to the public official charged  by  law  with
  the  duty of enforcing the collecting of delinquent real property taxes.
  Thereafter, whenever such officer publishes a notice pertaining  to  the
  enforcement  of delinquent taxes against a parcel listed on such return,
  and the name of the mortgagor is  included  therein,  the  name  of  the
  mortgage investing institution shall also be included.