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Assembly Bill A824A

2013-2014 Legislative Session

Requires a plaintiff in a mortgage foreclosure action to maintain the subject property in good faith

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Archive: Last Bill Status - In Assembly Committee

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Bill Amendments

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2013-A824 - Details

See Senate Version of this Bill:
S4277
Current Committee:
Assembly Judiciary
Law Section:
Real Property Actions and Proceedings Law
Laws Affected:
Amd §1307, RPAP L
Versions Introduced in 2015-2016 Legislative Session:
A4152

2013-A824 - Summary

Requires a plaintiff in a mortgage foreclosure action to maintain the subject property in good faith.

2013-A824 - Bill Text download pdf 

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

                                   824

                       2013-2014 Regular Sessions

                          I N  A S S E M B L Y

                               (PREFILED)

                             January 9, 2013
                               ___________

Introduced by M. of A. KEARNS -- read once and referred to the Committee
  on Judiciary

AN  ACT  to  amend  the  real  property  actions and proceedings law, in
  relation to a plaintiff in a mortgage foreclosure action  obtaining  a
  judgment of foreclosure and sale in good faith

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

  Section 1. Subdivision 1 of section 1307 of the real property  actions
and  proceedings  law,  as  added by chapter 507 of the laws of 2009, is
amended to read as follows:
  1. A plaintiff in a mortgage foreclosure  action  who  IN  GOOD  FAITH
obtains  a judgment of foreclosure and sale pursuant to section thirteen
hundred fifty-one of this article, involving residential real  property,
as  defined  in  section  thirteen hundred five of this article, that is
vacant, or becomes vacant after the issuance of  such  judgment,  or  is
abandoned  by  the  mortgagor but occupied by a tenant, as defined under
section thirteen hundred five of this article, shall maintain such prop-
erty until such time as ownership has been transferred through the clos-
ing of title in foreclosure, or other disposition, and the deed for such
property has been duly recorded; provided, however, that  if  a  munici-
pality  or  governmental  entity  holds a mortgage subordinate to one or
more mortgages on the residential real  property,  the  municipality  or
governmental  entity  shall  not  be subject to the requirements of this
section.   AS USED IN THIS SECTION,  THE  TERM  "GOOD  FAITH"  SHALL  BE
DEFINED AS HONESTY IN FACT AND THE OBSERVANCE OF REASONABLE STANDARDS OF
FAIR DEALING.
  S 2. This act shall take effect immediately.


 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD01068-01-3

co-Sponsors

multi-Sponsors

2013-A824A (ACTIVE) - Details

See Senate Version of this Bill:
S4277
Current Committee:
Assembly Judiciary
Law Section:
Real Property Actions and Proceedings Law
Laws Affected:
Amd §1307, RPAP L
Versions Introduced in 2015-2016 Legislative Session:
A4152

2013-A824A (ACTIVE) - Summary

Requires a plaintiff in a mortgage foreclosure action to maintain the subject property in good faith.

2013-A824A (ACTIVE) - Bill Text download pdf 

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

                                 824--A

                       2013-2014 Regular Sessions

                          I N  A S S E M B L Y

                               (PREFILED)

                             January 9, 2013
                               ___________

Introduced by M. of A. KEARNS, JAFFEE, STECK, GABRYSZAK, ROBINSON, SCAR-
  BOROUGH,  SCHIMEL -- Multi-Sponsored by -- M. of A. CORWIN, GOTTFRIED,
  McDONALD, STEC -- read once and referred to the Committee on Judiciary
  -- 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 requiring a plaintiff in a mortgage foreclosure action  to
  maintain the subject property in good faith

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

  Section 1. Subdivision 1 of section 1307 of the real property  actions
and  proceedings  law,  as  added by chapter 507 of the laws of 2009, is
amended to read as follows:
  1. A plaintiff [in] WHO COMMENCES a mortgage foreclosure  action  [who
obtains],  INCLUDING  A LENDER, AN ASSIGNEE OR A MORTGAGE LOAN SERVICER,
SEEKING a judgment of foreclosure and sale pursuant to section  thirteen
hundred  fifty-one of this article, involving residential real property,
as defined in section thirteen hundred five of  this  article,  that  is
vacant,  or becomes vacant after COMMENCEMENT OF THE ACTION OR the issu-
ance of such judgment, or is abandoned by the mortgagor but occupied  by
a  tenant,  as defined under section thirteen hundred five of this arti-
cle, shall IN GOOD FAITH maintain  such  property  until  such  time  as
ownership  has been transferred through the closing of title in foreclo-
sure, or other disposition, and the deed for such property has been duly
recorded; provided, however, that  if  a  municipality  or  governmental
entity  holds  a  mortgage  subordinate  to one or more mortgages on the
residential real property, the municipality or governmental entity shall
not be subject to the requirements of this section.   AS  USED  IN  THIS
SECTION,  THE  TERM "GOOD FAITH" SHALL BE DEFINED AS HONESTY IN FACT AND
THE OBSERVANCE OF REASONABLE STANDARDS OF FAIR DEALING.
  S 2. This act shall take effect immediately.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets

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