Property owner 573 Jackson Ave. Realty Corp. failed to pay property taxes on real estate located in Bronx, N.Y. Soon thereafter, NYCTL 1999-1 Trust bought a tax lien against the property from the city of New York, in the amount of $2,412.75.
When, several years later, Jackson paid the Trust the $2,412.75 principal amount of the lien, the lien was not extinguished because the statutory interest that had accrued remained unpaid.
The Trust filed suit against Jackson to collect the monies owed under the lien.
At trial, the court granted summary judgment in favor of the trust and calculated the amount owed, including more than $9,000 in attorney fees incurred "only after (573 Jackson Ave. Realty Corp.) chose to advance and repeat its unavailing arguments which had been decided by the court in its previous Orders."