Senate Bill S4277

2013-2014 Legislative Session

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

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Sponsored By

Archive: Last Bill Status - In Senate Committee Housing, Construction And Community Development 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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2013-S4277 (ACTIVE) - Details

See Assembly Version of this Bill:
A824
Current Committee:
Senate Housing, Construction And Community Development
Law Section:
Real Property Actions and Proceedings Law
Laws Affected:
Amd §1307, RPAP L
Versions Introduced in 2015-2016 Legislative Session:
A4152

2013-S4277 (ACTIVE) - Summary

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

2013-S4277 (ACTIVE) - Sponsor Memo

2013-S4277 (ACTIVE) - Bill Text download pdf 

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

                                  4277

                       2013-2014 Regular Sessions

                            I N  S E N A T E

                             March 19, 2013
                               ___________

Introduced  by Sen. GALLIVAN -- 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 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
                      [ ] is old law to be omitted.
                                                           LBD01068-05-3

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