# N.Y. SCT Law § 40-B: Redemption by mortgagee

> New York · Statutes · In force

URL: https://www.frixlaw.com/law-library/statutes/STATE_NY_ASCT_A2_S40-B

## Section

- **Citation:** N.Y. SCT Law § 40-B
- **Heading:** Redemption by mortgagee
- **Jurisdiction:** New York
- **Kind:** Statutes
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** New York Code / Act SCT / Article 2 / Section 40-B

## Text

§ 40-b. Redemption by mortgagee. 1. The holder of any mortgage which\nis duly recorded at the time of the sale, may, at any time after the\nsale of all or any part of the mortgaged premises for unpaid taxes or\nassessments, and before the expiration of six months after the time of\nfiling of the evidence of the giving of the notice required by the\npreceding section, or, if the notice required by such section is not\ngiven or, if evidence of the giving of such notice be not filed then at\nany time within thirty-six months after the sale, and not thereafter,\nredeem the premises so sold, or any part thereof from such sale. The\nredemption shall be made by filing with the county treasurer a written\ndescription of his mortgage, and by paying to the county treasurer, upon\nthe certificate of the county treasurer, for the use of the purchaser,\nor those claiming under him, the same amount which such holder would be\nrequired to pay upon redemption of such premises if he were an occupant\nthereof. In case of failure to redeem within the time herein specified,\nthe sale and conveyance thereof shall become absolute and the mortgagee\nand all other persons claiming title by virtue of any mortgage barred\nforever. The holder of such mortgage shall have a lien upon the premises\nredeemed for the amount so paid with interest from the time of payment,\nin like manner as if it had been included in the mortgage.\n 2. This section shall apply to sales made prior to March twenty-ninth,\nnineteen hundred fifty, as well as to sales made on or after that date,\nexcept that the holder of any mortgage on property sold for unpaid taxes\nprior to that date who still has a right to redeem under the statutes in\neffect at the time of such sale, whether or not notice to redeem was\ngiven or evidence of such notice filed, may redeem within twelve months\nafter this act takes effect, and not thereafter.\n

## Nearby sections

- [N.Y. SCT Law § 34 All acts and parts of acts inconsistent herewith are hereby repealed](https://www.frixlaw.com/law-library/statutes/STATE_NY_ASCT_A2_S34.md)
- [N.Y. SCT Law § 35 This act shall take effect immediately, except sections fifteen to twenty-six, inclusive, and twenty-eight, twenty-nine and thirty-three,...](https://www.frixlaw.com/law-library/statutes/STATE_NY_ASCT_A2_S35.md)
- [N.Y. SCT Law § 40 Collection of taxes and assessments shall be enforced by sale](https://www.frixlaw.com/law-library/statutes/STATE_NY_ASCT_A2_S40.md)
- [N.Y. SCT Law § 40-A Lien of mortgage not affected by tax sale](https://www.frixlaw.com/law-library/statutes/STATE_NY_ASCT_A2_S40-A.md)
- [N.Y. SCT Law § 40-B Redemption by mortgagee](https://www.frixlaw.com/law-library/statutes/STATE_NY_ASCT_A2_S40-B.md)
- [N.Y. SCT Law § 40-C Cancellation of sales](https://www.frixlaw.com/law-library/statutes/STATE_NY_ASCT_A2_S40-C.md)
- [N.Y. SCT Law § 40-D Abandonment of claim of title under tax deeds on cancellation of sale](https://www.frixlaw.com/law-library/statutes/STATE_NY_ASCT_A2_S40-D.md)
- [N.Y. SCT Law § 40-E Setting aside cancellation of sale](https://www.frixlaw.com/law-library/statutes/STATE_NY_ASCT_A2_S40-E.md)
- [N.Y. SCT Law § 42 Advertisement of notice of unpaid taxes by county treasurer](https://www.frixlaw.com/law-library/statutes/STATE_NY_ASCT_A2_S42.md)
- [N.Y. SCT Law § 43 Advertisement of notice of sale](https://www.frixlaw.com/law-library/statutes/STATE_NY_ASCT_A2_S43.md)
- [N.Y. SCT Law § 44 Copies of notice of sale to be furnished county treasurer](https://www.frixlaw.com/law-library/statutes/STATE_NY_ASCT_A2_S44.md)
- [N.Y. SCT Law § 45 Sale of property for unpaid taxes](https://www.frixlaw.com/law-library/statutes/STATE_NY_ASCT_A2_S45.md)
- [N.Y. SCT Law § 45-A Special provisions relating to certain tax sales heretofore held; rates of redemption](https://www.frixlaw.com/law-library/statutes/STATE_NY_ASCT_A2_S45-A.md)
- [N.Y. SCT Law § 45-B Tax sale in November, nineteen hundred thirty-three, validated](https://www.frixlaw.com/law-library/statutes/STATE_NY_ASCT_A2_S45-B.md)

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Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_NY_ASCT_A2_S40-B. Check the current official text before relying on it. Not legal advice.