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Assembly Bill A9394

2015-2016 Legislative Session

Relates to requiring a bank to notify a municipality when the bank files a lis pendens for a foreclosure

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Archive: Last Bill Status - In Assembly Committee

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2015-A9394 (ACTIVE) - Details

Current Committee:
Assembly Judiciary
Law Section:
Real Property Actions and Proceedings Law
Laws Affected:
Amd §1303, RPAP L
Versions Introduced in Other Legislative Sessions:
2017-2018: A4895, A8984
2019-2020: A1725
2021-2022: A1437
2023-2024: A177

2015-A9394 (ACTIVE) - Summary

Relates to requiring a bank to notify a municipality when the bank files a lis pendens for a foreclosure.

2015-A9394 (ACTIVE) - Bill Text download pdf 

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

                                  9394

                          I N  A S S E M B L Y

                            February 29, 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 requiring banks to notify a  municipality  when  the  bank
  files a lis pendens for a foreclosure

  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.  IF  THE  FORECLOSING  PARTY IN A FORECLOSURE ACTION IS A BANK, THE
BANK SHALL NOTIFY THE MUNICIPALITY WHERE THE REAL  PROPERTY  IS  LOCATED
WHEN THE BANK FILES A LIS PENDENS FOR THE FORECLOSURE.
  S 2. This act shall take effect immediately.








 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD13221-01-5

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