Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jan 03, 2018 |
referred to judiciary |
May 11, 2017 |
referred to judiciary |
Senate Bill S6131
2017-2018 Legislative Session
Sponsored By
(D, WF) Senate District
Archive: Last Bill Status - In Senate Committee Judiciary 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
Actions
2017-S6131 (ACTIVE) - Details
2017-S6131 (ACTIVE) - Sponsor Memo
BILL NUMBER: S6131 TITLE OF BILL : An act to amend the real property law, in relation to the definition of residence and residential real property PURPOSE OR GENERAL IDEA OF BILL : To ensure that all homeowners are protected under the Home Equity Theft Protection Act SUMMARY OF SPECIFIC PROVISIONS : Section 1 Paragraph (k) of subdivision 2 of section 265-a of the real 2 property law, as added by chapter 308 of the laws of 2006, is amended. JUSTIFICATION : With rampant deed fraud hitting major real estate markets in New York, small homeowners who have made investments into residential properties are also affected by fraudulent claims. Under the Home Equity Theft Protection Act homeowners of residential property are mandated to be provided with information and disclosures in order to make informed decisions when approached by persons seeking a sale or transfer of the homeowner's property, particularly when
2017-S6131 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 6131 2017-2018 Regular Sessions I N S E N A T E May 11, 2017 ___________ Introduced by Sen. PERALTA -- read twice and ordered printed, and when printed to be committed to the Committee on Judiciary AN ACT to amend the real property law, in relation to the definition of residence and residential real property THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Paragraph (k) of subdivision 2 of section 265-a of the real property law, as added by chapter 308 of the laws of 2006, is amended to read as follows: (k) "Residence" and "residential real property" means residential real property consisting of one- to four-family dwelling units[, one of which the equity seller occupies or occupied at a time immediately prior to the equity sale as his or her primary residence]. § 2. This act shall take effect immediately. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD04037-01-7
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