New York § 128 - 128Minimum bid of trustee at sale on foreclosure to be fixed by court
Full text of New York New York Consolidated Laws § 128 — 128Minimum bid of trustee at sale on foreclosure to be fixed by court, with citation guidance and answers to common questions.
§ 128. 128Minimum bid of trustee at sale on foreclosure to be fixed by court
§ 128. Minimum bid of trustee at sale on foreclosure to be fixed by court. Notwithstanding any inconsistent provision of law, on application for judgment of foreclosure and sale in an action brought to foreclose a trust indenture, deed of trust or mortgage upon real property, except where a plan of reorganization shall have been consented to by one hundred per centum of all the bondholders or where a minimum and maximum sum at which the trustee shall bid for the property has been set forth in a plan of reorganization and approved by the court in a proceeding for the reorganization of the property covered by trust indenture under sections one hundred and twenty-one and one hundred and twenty-two of this chapter, the court shall determine what is a fair upset price below which the property shall not be sold and the judgment directing the foreclosure and sale shall fix the minimum price which the trustee or his agent or nominee shall bid for the property.
Source: official New York text · Last verified 2026-08-27
Frequently Asked Questions About New York § 128
What does New York Consolidated Laws § 128 cover?
Section 128 ("128Minimum bid of trustee at sale on foreclosure to be fixed by court") is part of the New York Consolidated Laws, the codified statutory law of New York. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite New York § 128?
A common citation format is "New York Consolidated Laws § 128" (New York). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of New York law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the New York official source linked on this page or consult a licensed New York attorney.
How does New York § 128 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in New York can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in New York.