N.Y. STF Law § 154

§ 154. Separate accounts for lands purchased or mortgaged. The\ncomptroller on application to him for that purpose, shall open an\naccount in his office against any person, for a part or subdivision of a\nlot of land purchased from or mortgaged to the state, for the\nproportionate part of the moneys on any such part or subdivision, and\nthereafter give credit on the several parts or subdivisions, as the\npersons making payments may require. He may credit any prior payment to\na part or subdivision, if such payment appears by satisfactory proof to\nhave been originally intended to be paid on such part or subdivision or\nby or for the use of the person claiming the credit, whether so\nexpressed in the receipts or not. No part of any such payments shall be\napplied to the reduction of the principal unpaid on any such part or\nsubdivision, unless the payments exceed the interest, calculated on the\nprincipal due on such part, or subdivision, to the day when such part or\nsubdivision is to be paid off, or a new account opened therefor. If\nseparate receipts be given by the treasurer, for any payments which are\nclaimed to be credited to the account of any such part or subdivision,\nthe receipts shall be delivered to the comptroller and filed in his\noffice. Separate accounts shall not be opened under this section unless\na map and survey of the whole lot is filed with the comptroller, showing\nparticularly the part or subdivision for which such account is to be\nopened, and satisfactory proof furnished the comptroller that the\nresidue of the lot is sufficient security for the sum remaining unpaid\nthereon.\n