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Assembly Bill A10523

2015-2016 Legislative Session

Relates to notifying homeowners whose property netted a surplus at a tax foreclosure auction

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Archive: Last Bill Status - In Assembly Committee

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2015-A10523 (ACTIVE) - Details

Current Committee:
Assembly Judiciary
Law Section:
Real Property Actions and Proceedings Law
Laws Affected:
Amd ยง1303, RPAP L
Versions Introduced in 2017-2018 Legislative Session:
A4763, A11258

2015-A10523 (ACTIVE) - Summary

Relates to notifying homeowners whose property netted a surplus at a tax foreclosure auction.

2015-A10523 (ACTIVE) - Bill Text download pdf 

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

                                  10523

                          I N  A S S E M B L Y

                              May 31, 2016
                               ___________

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 notifying homeowners whose property netted a surplus at  a
  tax foreclosure auction

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

  Section 1. Section 1303 of the real property actions  and  proceedings
law is amended by adding a new subdivision 8 to read as follows:
  8.  (A)  A MUNICIPALITY SHALL NOTIFY A PROPERTY OWNER WHEN THE OWNER'S
PROPERTY NETTED A SURPLUS AT A TAX FORECLOSURE AUCTION THAT WAS HELD  ON
OR  AFTER JANUARY FIRST, TWO THOUSAND NINE. THE NOTIFICATION SHALL STATE
THE POSSIBLE EXISTENCE OF A SURPLUS,  HOW  TO  OBTAIN  THE  SURPLUS  AND
CONTACT  INFORMATION  FOR FREE LEGAL SERVICES IF AVAILABLE AND THE STEPS
THE HOMEOWNER MUST TAKE TO OBTAIN THE SURPLUS. IN THIS SECTION,  SURPLUS
SHALL MEAN THE AMOUNT THAT IS LEFT AFTER THE PROPERTY HAS BEEN AUCTIONED
AND  ALL  OUTSTANDING  TAXES, ISSUES PAYMENTS FOR COUNTY TAX AND UTILITY
LIENS AND ADMINISTRATIVE AND OTHER FEES HAVE BEEN PAID.
  (B) MUNICIPALITIES SHALL MAKE A REASONABLE EFFORT TO  NOTIFY  PROPERTY
OWNERS BY THE USE OF MAIL, TELEPHONE OR ELECTRONIC MAIL WITHIN A REASON-
ABLE TIME OF THE TAX FORECLOSURE AUCTION.
  (C)  MUNICIPALITIES  MAY  CHARGE  PROPERTY  OWNERS A REASONABLE FEE TO
COVER THE NOTIFICATION EXPENSES. MUNICIPALITIES SHALL NOT CHARGE  A  FEE
OF MORE THAN FIVE PERCENT OF THE TOTAL SURPLUS IN CASES WHERE A HOMEOWN-
ER NETS A SURPLUS IN EXCESS OF ONE THOUSAND DOLLARS.
  S 2. This act shall take effect immediately.



 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD13251-02-6

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