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Senate Bill S3640

2017-2018 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 Senate Committee Housing, Construction And Community Development Committee

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2017-S3640 (ACTIVE) - Details

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 Other Legislative Sessions:
2013-2014: S4055
2015-2016: S1779
2019-2020: S4819
2021-2022: S1579

2017-S3640 (ACTIVE) - Summary

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

2017-S3640 (ACTIVE) - Sponsor Memo

2017-S3640 (ACTIVE) - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   3640
 
                        2017-2018 Regular Sessions
 
                             I N  S E N A T E
 
                             January 25, 2017
                                ___________
 
 Introduced  by  Sens.  PARKER, AVELLA -- 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. This act shall be known and  may  be  cited  as  "The  Good
 Neighbor Act".
   §  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.
   § 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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