Amsterdam Urban Renewal Agency v. Montgomery County Trust Co.

Plaintiff acquired title to defendants’ real property by condemnation on September 24,1969. In accordance with General Municipal Law (§ 555, subd. 3, par. b) the parties entered into an agreement of prepayment in an amount equal to 75% of the compensation which had been offered to the owner as the plaintiff’s determination of just compensation. This amount was paid on October 10, 1969 but interest thereon which had accrued between the time of taking and the prepayment was not paid. Defendants now move for an order directing plaintiff to pay the interest due on October 10, 1969 together with…