Senate Bill S7350A

2013-2014 Legislative Session

"Abandoned Property Neighborhood Relief Act of 2014"; relates to the duty of the mortgagee or its loan servicing agent to maintain property secured by delinquent mortgage

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Sponsored By

Archive: Last Bill Status - In Senate Committee Judiciary Committee


  • Introduced
    • In Committee Assembly
    • In Committee Senate
    • On Floor Calendar Assembly
    • On Floor Calendar Senate
    • Passed Assembly
    • Passed Senate
  • Delivered to Governor
  • Signed By Governor

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Bill Amendments

co-Sponsors

2013-S7350 - Details

See Assembly Version of this Bill:
A9341
Current Committee:
Senate Judiciary
Law Section:
Real Property Actions and Proceedings Law
Laws Affected:
Amd §1307, add §1307-a, RPAP L

2013-S7350 - Summary

Establishes the "Abandoned Property Neighborhood Relief Act of 2014"; relates to the duty of the mortgagee or its loan servicing agent to maintain property secured by a delinquent mortgage.

2013-S7350 - Sponsor Memo

2013-S7350 - Bill Text download pdf

                            
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  7350

                            I N  S E N A T E

                              May 13, 2014
                               ___________

Introduced by Sen. KLEIN -- (at request of the Attorney General) -- read
  twice  and  ordered  printed,  and when printed to be committed to the
  Committee on Judiciary

AN ACT establishing the "New York state abandoned property  neighborhood
  relief  act  of  2014";  and  to  amend  the real property actions and
  proceedings law, in relation to the duty of the mortgagee or its  loan
  servicing agent to maintain property secured by delinquent mortgage

  THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1. This act shall be known and may be cited as the  "New  York
state abandoned property neighborhood relief act of 2014".
  S 2. Section 1307 of the real property actions and proceedings law, as
added by chapter 507 of the laws of 2009, is amended to read as follows:
  S  1307.  Duty to maintain [foreclosed] property SECURED BY DELINQUENT
MORTGAGE.  1. [A plaintiff in a mortgage foreclosure action who  obtains
a  judgment of foreclosure and sale pursuant to section thirteen hundred
fifty-one of this  article,  involving  residential  real  property,  as
defined  in  section  thirteen  hundred  five  of  this article, that is
vacant, or becomes vacant after the issuance of  such  judgment,  or  is
abandoned by the mortgagor but occupied by a tenant] (A) WITH RESPECT TO
A  MORTGAGE  LOAN SECURED BY RESIDENTIAL REAL PROPERTY, as defined under
section thirteen hundred five of this article,  WHERE  THE  PROPERTY  IS
"VACANT  AND  ABANDONED" AS DEFINED IN PARAGRAPH (B) OF THIS SUBDIVISION
OR A FORECLOSURE ACTION HAS BEEN COMMENCED AGAINST THE PROPERTY  BECAUSE
THE MORTGAGOR HAS FAILED TO MAINTAIN THE PROPERTY OR WHERE A JUDGMENT OF
FORECLOSURE UNDER SECTION THIRTEEN HUNDRED FIFTY-ONE OF THIS ARTICLE HAS
BEEN  OBTAINED  ON THE PROPERTY THAT HAS BEEN ABANDONED BY THE MORTGAGOR
BUT REMAINS OCCUPIED BY A TENANT LAWFULLY IN POSSESSION,  THE  MORTGAGEE
OR ITS LOAN SERVICING AGENT shall maintain such property until such time
as  ownership has been transferred through the closing of title in fore-
closure, or other disposition, and the deed for such property  has  been
duly recorded; provided, however, that if a municipality or governmental
entity  holds  a  mortgage  subordinate  to one or more mortgages on the

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD13184-07-4
              

co-Sponsors

2013-S7350A (ACTIVE) - Details

See Assembly Version of this Bill:
A9341
Current Committee:
Senate Judiciary
Law Section:
Real Property Actions and Proceedings Law
Laws Affected:
Amd §1307, add §1307-a, RPAP L

2013-S7350A (ACTIVE) - Summary

Establishes the "Abandoned Property Neighborhood Relief Act of 2014"; relates to the duty of the mortgagee or its loan servicing agent to maintain property secured by a delinquent mortgage.

2013-S7350A (ACTIVE) - Sponsor Memo

2013-S7350A (ACTIVE) - Bill Text download pdf

                            
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                 7350--A

                            I N  S E N A T E

                              May 13, 2014
                               ___________

Introduced  by  Sens.  KLEIN,  ADDABBO, AVELLA, BRESLIN, CARLUCCI, DIAZ,
  DILAN, ESPAILLAT, GIPSON, HASSELL-THOMPSON, HOYLMAN, KENNEDY,  LARKIN,
  LATIMER,  MONTGOMERY, PARKER, PERALTA, PERKINS, RIVERA, SAVINO, SERRA-
  NO, SQUADRON, STAVISKY, TKACZYK, VALESKY -- (at request of the  Attor-
  ney General) -- read twice and ordered printed, and when printed to be
  committed  to the Committee on Judiciary -- committee discharged, bill
  amended, ordered reprinted as amended and recommitted to said  commit-
  tee

AN  ACT establishing the "New York state abandoned property neighborhood
  relief act of 2014"; and  to  amend  the  real  property  actions  and
  proceedings  law, in relation to the duty of the mortgagee or its loan
  servicing agent to maintain property secured by delinquent mortgage

  THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section  1.  This act shall be known and may be cited as the "New York
state abandoned property neighborhood relief act of 2014".
  S 2. Section 1307 of the real property actions and proceedings law, as
added by chapter 507 of the laws of 2009, is amended to read as follows:
  S 1307. Duty to maintain [foreclosed] property SECURED  BY  DELINQUENT
MORTGAGE.   1. [A plaintiff in a mortgage foreclosure action who obtains
a judgment of foreclosure and sale pursuant to section thirteen  hundred
fifty-one  of  this  article,  involving  residential  real property, as
defined in section thirteen  hundred  five  of  this  article,  that  is
vacant,  or  becomes  vacant  after the issuance of such judgment, or is
abandoned by the mortgagor but occupied by a tenant] (A) WITH RESPECT TO
A MORTGAGE LOAN SECURED BY RESIDENTIAL REAL PROPERTY, as  defined  under
section  thirteen  hundred  five  of this article, WHERE THE PROPERTY IS
"VACANT AND ABANDONED" AS DEFINED IN PARAGRAPH (B) OF  THIS  SUBDIVISION
OR  A FORECLOSURE ACTION HAS BEEN COMMENCED AGAINST THE PROPERTY BECAUSE
THE MORTGAGOR HAS FAILED TO MAINTAIN THE PROPERTY OR WHERE A JUDGMENT OF
FORECLOSURE UNDER SECTION THIRTEEN HUNDRED FIFTY-ONE OF THIS ARTICLE HAS
BEEN OBTAINED ON THE PROPERTY THAT HAS BEEN ABANDONED BY  THE  MORTGAGOR
BUT  REMAINS  OCCUPIED BY A TENANT LAWFULLY IN POSSESSION, THE MORTGAGEE
OR ITS LOAN SERVICING AGENT shall maintain such property until such time

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
              

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