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Senate Bill S1770

2009-2010 Legislative Session

Provides that the judgment of sale in a mortgage foreclosure action shall direct that payment by the purchaser be made by means of a bank officer's check

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Sponsored By

Archive: Last Bill Status - In Senate Committee Housing, Construction And Community Development Committee

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2009-S1770 (ACTIVE) - Details

Current Committee:
Senate Housing, Construction And Community Development
Law Section:
Real Property Actions and Proceedings Law
Laws Affected:
Amd ยง1351, RPAP L
Versions Introduced in Other Legislative Sessions:
2011-2012: S3149
2013-2014: S348
2015-2016: S5203

2009-S1770 (ACTIVE) - Summary

Provides that the judgment of sale in a mortgage foreclosure action shall direct that payment by the purchaser be made by means of a bank officer's check or certified check.

2009-S1770 (ACTIVE) - Sponsor Memo

2009-S1770 (ACTIVE) - Bill Text download pdf 

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

                                  1770

                       2009-2010 Regular Sessions

                            I N  S E N A T E

                            February 6, 2009
                               ___________

Introduced  by  Sen. LAVALLE -- read twice and ordered printed, and when
  printed to be committed to the Committee on Judiciary

AN ACT to amend the  real  property  actions  and  proceedings  law,  in
  relation  to  the  payment  by  bank  check  or certified check of the
  purchase price at a mortgage foreclosure sale

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

  Section  1. Subdivision 1 of section 1351 of the real property actions
and proceedings law, as added by chapter 312 of the  laws  of  1962,  is
amended to read as follows:
  1.  The  judgment shall direct that the mortgaged premises, or so much
thereof as may  be  sufficient  to  discharge  the  mortgage  debt,  the
expenses  of the sale and the costs of the action, and which may be sold
separately without material injury to the parties interested, be sold by
or under the direction of the sheriff of the county, or a referee.   THE
JUDGMENT  SHALL DIRECT THAT PAYMENT BY THE PURCHASER BE MADE BY MEANS OF
A BANK OFFICER'S CHECK OR CERTIFIED CHECK.
  S 2. This act shall take effect on the thirtieth day  after  it  shall
have become a law.





 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD08134-01-9

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