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Senate Bill S3149A

2011-2012 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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Archive: Last Bill Status - In Senate Committee Housing, Construction And Community Development Committee

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Bill Amendments

2011-S3149 - Details

See Assembly Version of this Bill:
A6744
Current Committee:
Senate Housing, Construction And Community Development
Law Section:
Real Property Actions and Proceedings Law
Laws Affected:
Amd §1351, RPAP L
Versions Introduced in Other Legislative Sessions:
2009-2010: S1770
2013-2014: S348
2015-2016: S5203

2011-S3149 - 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 or credit union officer's check or certified check.

2011-S3149 - Sponsor Memo

2011-S3149 - Bill Text download pdf 

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

                                  3149

                       2011-2012 Regular Sessions

                            I N  S E N A T E

                            February 9, 2011
                               ___________

Introduced  by  Sen. LAVALLE -- 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 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.
                                                           LBD07677-01-1

2011-S3149A (ACTIVE) - Details

See Assembly Version of this Bill:
A6744
Current Committee:
Senate Housing, Construction And Community Development
Law Section:
Real Property Actions and Proceedings Law
Laws Affected:
Amd §1351, RPAP L
Versions Introduced in Other Legislative Sessions:
2009-2010: S1770
2013-2014: S348
2015-2016: S5203

2011-S3149A (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 or credit union officer's check or certified check.

2011-S3149A (ACTIVE) - Sponsor Memo

2011-S3149A (ACTIVE) - Bill Text download pdf 

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

                                 3149--A

                       2011-2012 Regular Sessions

                            I N  S E N A T E

                            February 9, 2011
                               ___________

Introduced  by  Sen. LAVALLE -- read twice and ordered printed, and when
  printed to be committed to the Committee on Housing, Construction  and
  Community  Development  -- committee discharged, bill amended, ordered
  reprinted as amended and recommitted to said committee

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 OR CREDIT UNION 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.
                                                           LBD07677-03-1

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