MATTER OF GRUMMAN AIRCRAFT ENG'G CORP. v. BD. OF ASSESSORS OF THE TOWN OF RIVERHEAD


1 A.D.2d 1021 (1956)

In the Matter of Grumman Aircraft Engineering Corporation, Respondent, v. Board of Assessors of the Town of Riverhead, Appellants

Appellate Division of the Supreme Court of the State of New York, Second Department.

May 14, 1956


Order reversed, without costs, and motion granted.

The statute applies to an occupant in possession under any agreement whereby he may, upon certain payments, acquire legal title. The leasehold interest, including the option to buy at a certain price and under certain conditions, is a taxable interest under the statute.

Wenzel, Acting P. J., dissents and votes to affirm with the following memorandum:

Real property owned by the United States...

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