in accordance with the terms prescribed as herein provided, then the amount deposited by him at the time of the sale shall be forfeited to the town, and the entire tax lien upon the lands affected by such purchase shall be sold again, such resale to be held at such time as the supervisor may direct, and notice thereof shall be posted and published as hereinbefore provided for the original sale of such tax lien. All deposits forfeited, as aforesaid, shall be paid to the supervisor and by him credited to the general town account. § 37. Transfer of tax liens. A transfer of tax lien shall operate to transfer and assign the tax lien upon the lands or tenements described therein for taxes and assessments and penalties thereon, and the charges of the notices and advertisement given pursuant to section thirty-four of this act, and all other costs and charges so advertised for sale, and to create a lien upon property affected thereby for the interest to which the purchaser may be entitled under his bid, but such tax lien so sold shall be subject to all taxes and assessments, including school taxes or interest acquired from the sale or lease of the premises for the same which are still unpaid and due and owing to the town making the sale, also subject to all town taxes, special district assessments and school taxes which have or may become a lien subsequent to the lien of the taxes or assessments for which the tax lien is sold, also subject to any and all subsequent transfer of tax lien against said premises. A transfer of tax lien shall contain a transfer and assignment by the town of the tax lien sold to the purchaser, the date of the sale, the aggregate amount of the tax lien so transferred and the items of taxes, assessments and penalties composing the tax lien, the annual rate of interest which the purchaser has bid and will be entitled to receive, the date when the amount of the tax lien will be due and the description of the real property affected by the tax lien, and shall refer for certainty to the designation of said property on the official town map by its section, block and lot number, and such other identifying description as the supervisor may deem proper to advertise. Each transfer of tax lien shall be subscribed by or on behalf of the official making the sale, or his successor in office, WHAT ONE VILLAGE OF NEW YORK STATE DID IN 1916 IN ASSESSING REAL ESTATE The Village of Williamsville, Erle County, Increased Its Real Estate and shall be acknowledged by the officer subscribing the same in the manner in which a deed is required to be acknowledged, to be recorded in the county in which the real property affected is situate. § 38. Record of transfer of tax liens. The receiver of taxes of the town shall keep in his office a public record of sales of tax liens, and a copy of each transfer of tax lien issued by him. Assignments of transfer tax lien, duly acknowledged, may be filed and recorded in the office of the receiver of taxes. Assignments of transfer of tax liens held by the town shall be executed by the receiver of taxes. A transfer of tax lien, and any assignment thereof duly acknowledged, shall be deemed conveyance under article eight of the real property law and may be recorded in the office of the recording officer of any county in which the real property which it affects is situated. Transfers of tax lien, and all assignments thereof, shall be recorded by the recording officer in the same manner as mortgages and assignments thereof, but without payment of the tax under article fourteen of the tax law. The record in the office of the receiver of taxes of sales of tax liens, of a transfer of tax lien, and of a copy of a transfer of tax lien, and of an assignment of transfer of tax lien, a record of transfer of tax lien in the office of a recording officer, and of an assignment of tax lien duly acknowledged in the office of a recording officer, shall be evidence in any court of the state without further proof. A transcript of any record enumerated in this section, duly certified, shall be evidence in any court in the state with like effect as the original instrument of record. Neither the tax lien nor the rights transferred or created by a transfer of tax lien shall be impaired by failure of a recording officer to record a transfer of tax lien made by the town through the receiver of taxes. § 39. Rights of purchaser of tax lien. The aggregate amount of each tax lien transferred pursuant to this title shall be due three years from the date of the sale. Until such aggregate amount is fully paid and discharged, the holder of the transfer of tax lien shall be entitled to receive interest on such aggregate amount from the day of sale, semi-annually on the first day of June and December, at the rate which the purchaser shall have bid. At the option of the holder of any transfer of tax lien the aggregate amount thereof shall become due and payable after default in the payment of interest for ninety days, or after default for three months after the date of sale of the tax lien in the payment of any taxes or assessments which become a lien subsequent to the taxes and assessments for which the tax lien so held is sold. In any instance where the town has bid in the tax lien and received a transfer thereof, and the assessed value of the lot or parcel of land as assessed upon any subsequent roll is less than one hundred dollars, the supervisor is authorized to advance on behalf of the town the amount of any subsequent tax or assess ment, and in that event the tax lien for the amount of such tax so paid shall not be sold, but the amount so paid with twelve per centum interest from the date of such payment shall be due and payable upon any redemption of the transfer of tax lien so held, or upon foreclosure thereof as hereinafter provided as a part such tax lien. A person may pay to the receiver of taxes such principal with interest at the rate bid up to a day three months after such payment, together with all taxes and assessments, including school taxes or interest acquired from the sale or lease of the premises for the same, which are still unpaid and due and owing to the town making the sale as of the date of the taxes for which such tax lien has been sold. In case such payment be made to the receiver of taxes he shall receive the amount of the tax lien and interest for the benefit of the holder of the tax lien thu dis charged, and the balance, if any, for the town, and shall give notice thereof to the purchaser, or the personal representative or assignee of the purchaser, by mail, addressed to such address as may have been furnished to the receiver of taxes. Upon receiving surrender of such transfer of tax lien, togther with necessary certificate of cancellation, the receiver of taxes shall pay the of amount of the tax lien and interest thus deposited to the person who, according to the records in his office, appears to be entitled thereto, or to the personal representative of such person. § 40. Discharge of tax liens. A tax lien sold pursuant to the provisions of this title must be discharged upon the record |