Assembly Bill A2444

2011-2012 Legislative Session

Allows right of redemption in foreclosure action brought against mortgagor's residence

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Assembly 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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2011-A2444 (ACTIVE) - Details

Current Committee:
Assembly Housing
Law Section:
Real Property Actions and Proceedings Law
Laws Affected:
Add §1352-a, RPAP L
Versions Introduced in Other Legislative Sessions:
2009-2010: A3593
2013-2014: A2863
2015-2016: A4567, A9981

2011-A2444 (ACTIVE) - Summary

Allows right of redemption in foreclosure action brought against mortgagor's residence; provides such right must be exercised within 1 year of entering of judgment.

2011-A2444 (ACTIVE) - Bill Text download pdf 

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

                                  2444

                       2011-2012 Regular Sessions

                          I N  A S S E M B L Y

                            January 18, 2011
                               ___________

Introduced  by  M.  of  A.  CLARK,  BENEDETTO, COLTON, SPANO, P. RIVERA,
  J. RIVERA, ROBINSON, HOOPER -- Multi-Sponsored by -- M. of A. BOYLAND,
  COOK, KOLB, MAISEL, MAYERSOHN, SWEENEY,  THIELE,  WEISENBERG  --  read
  once and referred to the Committee on Housing

AN  ACT  to  amend  the  real  property  actions and proceedings law, in
  relation to right of redemption in a foreclosure action of a residence

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

  Section 1. The real property actions and proceedings law is amended by
adding a new section 1352-a to read as follows:
  S  1352-A. RIGHT OF REDEMPTION IN AN ACTION TO FORECLOSE A MORTGAGE ON
A RESIDENCE.  AT ANY TIME WITHIN ONE YEAR FROM THE TIME OF THE  ENTERING
OF  A  JUDGMENT  IN AN ACTION TO FORECLOSE A MORTGAGE, THE MORTGAGOR, IF
THE REAL PROPERTY FORECLOSED IS THE RESIDENCE OF THE MORTGAGOR, MAY CURE
THE INDEBTEDNESS BY PAYING THE AMOUNT OF MONEYS SPECIFIED IN  THE  JUDG-
MENT  PLUS  THE  REASONABLE  EXPENSES  OF  THE  PROCEEDING  TO FORECLOSE
INCURRED TO THE TIME OF TENDER, INCLUDING REASONABLE ATTORNEY'S FEES  OF
THE MORTGAGEE.
  S 2. This act shall take effect immediately.





 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD06577-01-1

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