Commercial Mortgagor's Declaration of Covid-19-related Hardship - New York

Commercial Mortgagor's Declaration of Covid-19-related Hardship is a legal document that was released by the New York State Unified Court System - a government authority operating within New York.

FAQ

Q: What is a Commercial Mortgagor's Declaration of Covid-19-related Hardship?
A: It is a legal document that allows commercial property owners in New York to declare hardship due to the Covid-19 pandemic.

Q: Who can submit a Commercial Mortgagor's Declaration of Covid-19-related Hardship?
A: Commercial property owners in New York who have been financially impacted by the Covid-19 pandemic can submit this declaration.

Q: What is the purpose of the Commercial Mortgagor's Declaration of Covid-19-related Hardship?
A: The purpose is to provide temporary relief to commercial property owners who are struggling financially due to the Covid-19 pandemic.

Q: What kind of hardship can be declared in this document?
A: The document allows for the declaration of hardship related to financial difficulties caused by the Covid-19 pandemic.

Q: What relief does the Commercial Mortgagor's Declaration of Covid-19-related Hardship provide?
A: The declaration can provide temporary relief from foreclosure and eviction proceedings for commercial property owners in New York.

Q: How long does the relief provided by this declaration last?
A: The relief provided by this declaration is temporary and its duration may vary based on the specific circumstances and agreements between the mortgagor and the mortgagee.

Q: Is this declaration applicable to residential property owners?
A: No, this declaration is specifically for commercial property owners in New York.