New York Laws
Article 3 - Enforcement of Liens on Real Property
55 - Offer to Pay Money Into Court, or to Deposit Securities, in Discharge of the Lien.

§ 55. Offer to pay money into court, or to deposit securities, in
discharge of the lien. At any time after an action is brought under the
provision of this article, the owner may make and file with the clerk
with whom the notice of lien is filed, if in a court of record, and if
in a court not of record, with the court, an offer to pay into court the
sum of money stated therein, or to execute and deposit securities which
he may describe, in discharge of the lien, and serve upon the plaintiff
a copy of such offer. If a written acceptance of the offer is filed with
such clerk, or court, within ten days after its service, and a copy of
the acceptance is served upon the party making the offer, the court,
upon proof of such offer and acceptance, may make an order, that on
depositing with such clerk, or court, the sum so offered, or the
securities described, the lien shall be discharged, and that the money
or securities deposited shall take the place of the property upon which
the lien existed, and shall be subject to the lien. If the offer is of
money only, the court, on application and notice to the plaintiff may
make such order, without the acceptance of the offer by the plaintiff.
If such action is brought in a court not of record, such order may be
made by the county court of the county where such action is brought upon
notice, and upon filing such order and depositing such sum of money or
securities with the county clerk of such county, he shall forthwith
discharge said notice of lien, by writing upon the margin of the record
thereof, the words "discharged by payment." Money or securities
deposited upon the acceptance of an offer pursuant to this section shall
be held by the clerk or the court until the final determination of the
action, including an appeal.

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