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Assembly Bill A335

2015-2016 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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2015-A335 (ACTIVE) - Details

See Senate Version of this Bill:
S1779
Current Committee:
Assembly Judiciary
Law Section:
Real Property Actions and Proceedings Law
Laws Affected:
Amd ยง1307, RPAP L
Versions Introduced in Other Legislative Sessions:
2013-2014: A7027, S4055
2017-2018: S3640
2019-2020: S4819
2021-2022: S1579

2015-A335 (ACTIVE) - Summary

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

2015-A335 (ACTIVE) - Bill Text download pdf 

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

                                   335

                       2015-2016 Regular Sessions

                          I N  A S S E M B L Y

                               (PREFILED)

                             January 7, 2015
                               ___________

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

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.  This  act  shall  be  known and may be cited as "The Good
Neighbor Act".
  S 2. 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 3. This act shall take effect immediately.

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

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