Statute · New York Real Property Law
N.Y. Real Prop. Law § 254-d — Fees by mortgagee for direct payment of real property taxes by mortgagor prohibited
N.Y. Real Prop. Law § 254-d
- Type
- Statute
- Source
- New York Real Property Law
- Jurisdiction
- New York
- Current through
- Nov 4, 2026 (NY Senate Open Legislation)
§ 254-d. Fees by mortgagee for direct payment of real property taxes by mortgagor prohibited. No mortgagor on a loan secured primarily by an interest in real property shall be charged a fee by the mortgagee because the parties have agreed that the mortgagor shall pay real property taxes on such…
Citator
N.Y. Real Prop. Law § 254-d — Fees by mortgagee for direct payment of real property taxes by mortgagor prohibited is in force in the current edition of the Code, and nothing recorded condemns it.
§ 254-d. Fees by mortgagee for direct payment of real property taxes by mortgagor prohibited. No mortgagor on a loan secured primarily by an interest in real property shall be charged a fee by the mortgagee because the parties have agreed that the mortgagor shall pay real property taxes on such real property directly to the taxing authority or authorities and not in escrow to the mortgagee or the mortgagee's agent.