State Codes and Statutes

Statutes > New-york > Tax > Article-26 > Part-3 > 982

§  982.  Lien  for  estate tax. (a) General. Unless the tax imposed by  this article is sooner paid in  full,  it  shall  be  a  lien  upon  all  property  includible  in  the  New York gross estate of the decedent for  fifteen years from the date of death of the decedent, except  that  such  part  of the New York gross estate as is used for the payment of charges  against the estate and expenses of its administration,  allowed  by  any  court  having  jurisdiction  thereof, shall be divested of such lien. In  the case of a decedent who at his death was not a resident of  New  York  state,  the  lien  shall apply to all property subject to tax under this  article.    (b) Prior mortgages on real property. The lien under subsection (a) of  this section shall be subject to the lien of any  mortgage  indebtedness  on  real  property incurred in good faith prior to the time when the tax  under this article became a lien. Such real property  may  be  sold  and  conveyed  free  from  any  such  tax lien in an action to foreclose such  mortgage to which the people of the state of New York  shall  have  been  made  a  party  defendant by reason of the existence of the lien for the  tax. The lien may then attach to any surplus moneys  which  result  from  such  sale,  to be determined in the proceedings for the distribution of  such surplus moneys.    (c) Discharge of lien.--Subject to such rules or  regulations  as  the  commissioner  may prescribe, the commissioner may issue a certificate of  discharge of any or all of the property subject to the lien  imposed  by  this  section if he or she finds that the liability secured by such lien  has been fully satisfied or provided  for,  upon  application  for  such  discharge. A certificate of discharge issued under this subsection shall  be  held  conclusive  that  the  lien  upon  the property covered by the  certificate is extinguished.    (d) Recording of certificate of discharge. A certificate of  discharge  issued  under  subsection  (c)  of  this  section may be recorded in the  office of the recording  officer  of  the  county  where  real  property  described therein is situated.    (e)  Power  of executor to sell. The executor shall have full power to  sell so much of the property of the estate as will enable him to pay the  tax imposed by this article in the same manner that he is  permitted  by  law to do for payment of debts of the estate.

State Codes and Statutes

Statutes > New-york > Tax > Article-26 > Part-3 > 982

§  982.  Lien  for  estate tax. (a) General. Unless the tax imposed by  this article is sooner paid in  full,  it  shall  be  a  lien  upon  all  property  includible  in  the  New York gross estate of the decedent for  fifteen years from the date of death of the decedent, except  that  such  part  of the New York gross estate as is used for the payment of charges  against the estate and expenses of its administration,  allowed  by  any  court  having  jurisdiction  thereof, shall be divested of such lien. In  the case of a decedent who at his death was not a resident of  New  York  state,  the  lien  shall apply to all property subject to tax under this  article.    (b) Prior mortgages on real property. The lien under subsection (a) of  this section shall be subject to the lien of any  mortgage  indebtedness  on  real  property incurred in good faith prior to the time when the tax  under this article became a lien. Such real property  may  be  sold  and  conveyed  free  from  any  such  tax lien in an action to foreclose such  mortgage to which the people of the state of New York  shall  have  been  made  a  party  defendant by reason of the existence of the lien for the  tax. The lien may then attach to any surplus moneys  which  result  from  such  sale,  to be determined in the proceedings for the distribution of  such surplus moneys.    (c) Discharge of lien.--Subject to such rules or  regulations  as  the  commissioner  may prescribe, the commissioner may issue a certificate of  discharge of any or all of the property subject to the lien  imposed  by  this  section if he or she finds that the liability secured by such lien  has been fully satisfied or provided  for,  upon  application  for  such  discharge. A certificate of discharge issued under this subsection shall  be  held  conclusive  that  the  lien  upon  the property covered by the  certificate is extinguished.    (d) Recording of certificate of discharge. A certificate of  discharge  issued  under  subsection  (c)  of  this  section may be recorded in the  office of the recording  officer  of  the  county  where  real  property  described therein is situated.    (e)  Power  of executor to sell. The executor shall have full power to  sell so much of the property of the estate as will enable him to pay the  tax imposed by this article in the same manner that he is  permitted  by  law to do for payment of debts of the estate.

State Codes and Statutes

State Codes and Statutes

Statutes > New-york > Tax > Article-26 > Part-3 > 982

§  982.  Lien  for  estate tax. (a) General. Unless the tax imposed by  this article is sooner paid in  full,  it  shall  be  a  lien  upon  all  property  includible  in  the  New York gross estate of the decedent for  fifteen years from the date of death of the decedent, except  that  such  part  of the New York gross estate as is used for the payment of charges  against the estate and expenses of its administration,  allowed  by  any  court  having  jurisdiction  thereof, shall be divested of such lien. In  the case of a decedent who at his death was not a resident of  New  York  state,  the  lien  shall apply to all property subject to tax under this  article.    (b) Prior mortgages on real property. The lien under subsection (a) of  this section shall be subject to the lien of any  mortgage  indebtedness  on  real  property incurred in good faith prior to the time when the tax  under this article became a lien. Such real property  may  be  sold  and  conveyed  free  from  any  such  tax lien in an action to foreclose such  mortgage to which the people of the state of New York  shall  have  been  made  a  party  defendant by reason of the existence of the lien for the  tax. The lien may then attach to any surplus moneys  which  result  from  such  sale,  to be determined in the proceedings for the distribution of  such surplus moneys.    (c) Discharge of lien.--Subject to such rules or  regulations  as  the  commissioner  may prescribe, the commissioner may issue a certificate of  discharge of any or all of the property subject to the lien  imposed  by  this  section if he or she finds that the liability secured by such lien  has been fully satisfied or provided  for,  upon  application  for  such  discharge. A certificate of discharge issued under this subsection shall  be  held  conclusive  that  the  lien  upon  the property covered by the  certificate is extinguished.    (d) Recording of certificate of discharge. A certificate of  discharge  issued  under  subsection  (c)  of  this  section may be recorded in the  office of the recording  officer  of  the  county  where  real  property  described therein is situated.    (e)  Power  of executor to sell. The executor shall have full power to  sell so much of the property of the estate as will enable him to pay the  tax imposed by this article in the same manner that he is  permitted  by  law to do for payment of debts of the estate.