Assembly Actions - Lowercase Senate Actions - UPPERCASE |
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Aug 17, 2020 | referred to judiciary |
assembly Bill A10898
Sponsored By
PEOPLES-STOKES
Archive: Last Bill Status - In Assembly Committee
- Introduced
- In Committee
- On Floor Calendar
- Passed Senate
- Passed Assembly
- Delivered to Governor
- Signed/Vetoed by Governor
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Co-Sponsors
Helene Weinstein
A10898 (ACTIVE) - Details
A10898 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 10898 I N A S S E M B L Y August 17, 2020 ___________ Introduced by COMMITTEE ON RULES -- (at request of M. of A. Peoples- Stokes, Weinstein) -- read once and referred to the Committee on Judi- ciary AN ACT to amend the real property actions and proceedings law, in relation to prohibiting the registration of mortgages in default prior to the filing of a notice of pendency THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. The real property actions and proceedings law is amended by adding a new section 1393 to read as follows: § 1393. MORTGAGES IN DEFAULT. 1. NO LOCAL LAW, ORDINANCE OR RESOLUTION SHALL ALLOW FOR THE REGISTRATION OF RESIDENTIAL MORTGAGES IN DEFAULT PRIOR TO A MORTGAGEE FILING A NOTICE OF PENDENCY IN A COURT OF COMPETENT JURISDICTION. 2. NO SUCH LOCAL LAW, ORDINANCE OR RESOLUTION SHALL REQUIRE A HOMEOWN- ER OR OCCUPANT TO REGISTER. 3. ANY LOCAL LAW, ORDINANCE OR RESOLUTION THAT ALLOWS FOR THE REGIS- TRATION OF RESIDENTIAL MORTGAGES IN DEFAULT MAY IMPOSE A REGISTRATION FEE NOT EXCEEDING SEVENTY-FIVE DOLLARS ANNUALLY. A MORTGAGEE AND/OR ITS AGENTS ARE PROHIBITED FROM PASSING ALONG SUCH FEES TO THE MORTGAGOR IN DEFAULT. 4. FOR THE PURPOSES OF THIS SECTION, A MORTGAGE DEFAULT OCCURS WHEN A MORTGAGOR FAILS TO FULFILL ITS OBLIGATIONS UNDER A MORTGAGE AGREEMENT. 5. "REGISTRATION" SHALL MEAN THE COLLECTION, PUBLICATION OR POSTING, PUBLIC OR OTHERWISE, OF RESIDENTIAL MORTGAGES IN DEFAULT BY A LOCAL GOVERNING BODY OR AN AGENCY THEREOF, OR ANY THIRD-PARTY ENTITY THAT CONTRACTS WITH SUCH LOCAL GOVERNING BODY. 6. "NOTICE OF PENDENCY" SHALL HAVE THE SAME MEANING AS DEFINED IN SECTION SIXTY-FIVE HUNDRED ONE OF THE CIVIL PRACTICE LAW AND RULES. 7. A LOCAL GOVERNING BODY, THROUGH A LOCAL LAW, ORDINANCE OR RESOL- UTION, MAY IMPOSE A FINE ON A MORTGAGEE FOR NONCOMPLIANCE WITH THIS SECTION OR ANY LOCAL LAW, ORDINANCE OR RESOLUTION THAT ALLOWS FOR THE REGISTRATION OF RESIDENTIAL MORTGAGES IN DEFAULT. A MORTGAGEE AND/OR ITS EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted.