City of New York v. 952 Fifth Avenue Corp.

The provisions of section 415(1)-53.1 of the Administrative Code of the City of New York (L. 1937, ch. 929, amd. L. 1941, ch. 667) authorize the appointment of the City Treasurer as receiver of the rents, issues and profits of property subject to a transfer of tax lien owned or held by the City and further authorize the Treasurer, acting as receiver, to apply the rents, issues and profits of the property 1 ‘ in satisfaction of such unpaid taxes, assessments, water rents, penalties and interest, the costs and charges of the administration of the receivership It seems clear from these…