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Senate Bill S3734

2009-2010 Legislative Session

Provides that excess proceeds from the sale of real property acquired by a tax district in a tax foreclosure proceeding shall be returned to the former owner

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Archive: Last Bill Status - In Senate Committee Local Government Committee

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2009-S3734 (ACTIVE) - Details

Current Committee:
Senate Local Government
Law Section:
Real Property Tax Law
Laws Affected:
Amd ยง1166, RPT L

2009-S3734 (ACTIVE) - Summary

Provides that excess proceeds from the sale of real property acquired by the county of Suffolk by virtue of a tax foreclosure proceeding shall be returned to the former owner.

2009-S3734 (ACTIVE) - Sponsor Memo

2009-S3734 (ACTIVE) - Bill Text download pdf 

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

                                  3734

                       2009-2010 Regular Sessions

                            I N  S E N A T E

                             March 30, 2009
                               ___________

Introduced by Sens. LAVALLE, DeFRANCISCO, FUSCHILLO, O. JOHNSON, LARKIN,
  MORAHAN, VOLKER -- read twice and ordered printed, and when printed to
  be committed to the Committee on Local Government

AN  ACT  to  amend the real property tax law, in relation to the sale of
  real property acquired by a tax district by virtue of a  tax  foreclo-
  sure proceeding

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

  Section 1. Section 1166 of the real property tax  law  is  amended  by
adding a new subdivision 1-a to read as follows:
  1-A. NOTWITHSTANDING ANY OTHER PROVISION OF LAW, UPON THE SALE OF REAL
PROPERTY  ACQUIRED  BY  A  TAX  DISTRICT  BY VIRTUE OF A TAX FORECLOSURE
PROCEEDING, ANY PROCEEDS OF SUCH  SALE  WHICH  SHALL  EXCEED  THE  TOTAL
AMOUNT OF THE DELINQUENT TAX LIEN OR LIENS FOR WHICH SUCH PROCEEDING WAS
COMMENCED, INCLUDING ALL CHARGES AUTHORIZED BY LAW, SHALL BE RETURNED TO
THE FORMER OWNER OF SUCH PROPERTY. PROVIDED, HOWEVER, THAT IF SUCH PROP-
ERTY  IS  SUBJECT  TO  ANY  MORTGAGE,  JUDGMENT, OR ANY OTHER LIEN, SUCH
PROCEEDS SHALL FIRST BE APPLIED TO SUCH OUTSTANDING  MORTGAGE,  JUDGMENT
AND/OR OTHER LIEN AS PROVIDED BY LAW.
  S 2. This act shall take effect immediately.




 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD08833-01-9

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