senate Bill S3589

2011-2012 Legislative Session

Grants tenants relocation costs from the proceeds of a foreclosure sale

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Archive: Last Bill Status - In Committee


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed/Vetoed by Governor

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Actions

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Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jan 04, 2012 referred to housing, construction and community development
Feb 28, 2011 referred to housing, construction and community development

S3589 - Bill Details

See Assembly Version of this Bill:
A3661
Current Committee:
Law Section:
Real Property Actions and Proceedings Law
Laws Affected:
Amd ยง1354, RPAP L
Versions Introduced in 2009-2010 Legislative Session:
S2955, A4678

S3589 - Bill Texts

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Grants tenants relocation costs from the proceeds of a foreclosure sale.

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BILL NUMBER:S3589

TITLE OF BILL:
An act
to amend the real property actions and proceedings law, in relation to
granting certain tenants the right to relocation costs from the proceeds
of a foreclosure sale

PURPOSE:
To provide relocation assistance for tenants whose property owner's
property enters into foreclosure.

SUMMARY OF PROVISIONS:
Section 1 amends 1354 of the real property actions and proceedings law
by adding new subdivision 2-a regarding disbursing funds from the
sale of the property to tenants whose leases have not expired, not to
exceed $1,500.
Section 2 states the effective date.

JUSTIFICATION:
Securing housing options for NYS residents is crucial in this economic
climate. The government needs to protect residents should their
property owner's property go into foreclosure. As it stands finding
affordable housing in NYS is difficult. this is especially the case
when residents are unexpectedly displaced. However, there is no
current law/statute in place to this effect. This bill would address
the current situation by ensuring that part of the proceeds from the
sale of any foreclosed property would be set aside to assist current
lease holders with relocation assistance.

LEGISLATIVE HISTORY:
2010: A.4678/S.2955 - Held in Housing, construction and Community
Development

FISCAL IMPLICATIONS:
To be determined.

EFFECTIVE DATE:
Immediately.

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

                                  3589

                       2011-2012 Regular Sessions

                            I N  S E N A T E

                            February 28, 2011
                               ___________

Introduced  by  Sen.  ADAMS  -- read twice and ordered printed, and when
  printed to be committed to the Committee on Housing, Construction  and
  Community Development

AN  ACT  to  amend  the  real  property  actions and proceedings law, in
  relation to granting certain tenants the  right  to  relocation  costs
  from the proceeds of a foreclosure sale

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

  Section 1. Section 1354 of the real property actions  and  proceedings
law is amended by adding a new subdivision 2-a to read as follows:
  2-A.  THE  OFFICER  CONDUCTING THE SALE SHALL PAY OUT OF THE PROCEEDS,
THE RELOCATION COSTS, NOT EXCEEDING ONE THOUSAND  FIVE  HUNDRED  DOLLARS
PER  LESSEE,  OF  ANY  LESSEE OF AN INTEREST IN THE PROPERTY SOLD WHO IS
REQUIRED TO VACATE THE REAL PROPERTY PRIOR TO THE TERMINATION OF HIS  OR
HER LEASE.
  S 2. This act shall take effect immediately.






 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD04068-01-1

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