senate Bill S348

2013-2014 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 Committee


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

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Actions

view actions (2)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jan 08, 2014 referred to housing, construction and community development
Jan 09, 2013 referred to housing, construction and community development

S348 - Details

Current Committee:
Law Section:
Real Property Actions and Proceedings Law
Laws Affected:
Amd ยง1351, RPAP L
Versions Introduced in Previous Legislative Sessions:
2011-2012: S3149A
2009-2010: S1770

S348 - 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.

S348 - Sponsor Memo

S348 - Bill Text download pdf

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

                                   348

                       2013-2014 Regular Sessions

                            I N  S E N A T E

                               (PREFILED)

                             January 9, 2013
                               ___________

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 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.
                                                           LBD03802-01-3

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