senate Bill S4683

2019-2020 Legislative Session

Directs the court to provide notice to the former owners of foreclosed property of the right to file a claim for the excess funds from the sale of the real property

download bill text pdf

Sponsored By

Current Bill Status - In Senate Committee Finance Committee


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed/Vetoed by Governor

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Actions

view actions (11)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jan 21, 2020 reported and committed to finance
Jan 08, 2020 referred to housing, construction and community development
returned to senate
died in assembly
May 20, 2019 referred to judiciary
delivered to assembly
passed senate
Apr 29, 2019 advanced to third reading
Apr 10, 2019 2nd report cal.
Apr 09, 2019 1st report cal.451
Mar 20, 2019 referred to housing, construction and community development

Votes

view votes

Jan 21, 2020 - Housing, Construction and Community Development committee Vote

S4683
11
0
committee
11
Aye
0
Nay
0
Aye with Reservations
0
Absent
0
Excused
0
Abstained
show Housing, Construction and Community Development committee vote details

Housing, Construction and Community Development Committee Vote: Jan 21, 2020

Apr 8, 2019 - Housing, Construction and Community Development committee Vote

S4683
11
0
committee
11
Aye
0
Nay
0
Aye with Reservations
0
Absent
0
Excused
0
Abstained
show Housing, Construction and Community Development committee vote details

Housing, Construction and Community Development Committee Vote: Apr 8, 2019

Co-Sponsors

S4683 (ACTIVE) - Details

See Assembly Version of this Bill:
A7160
Current Committee:
Senate Finance
Law Section:
Real Property Actions and Proceedings Law
Laws Affected:
Amd §§1354, RPAP L; amd §1136, RPT L
Versions Introduced in Other Legislative Sessions:
2015-2016: S6259
2017-2018: S3948, A10168

S4683 (ACTIVE) - Summary

Directs the court to provide notice to the former owners of foreclosed property of the right to file a claim for the excess funds from the sale of the real property.

S4683 (ACTIVE) - Sponsor Memo

S4683 (ACTIVE) - Bill Text download pdf


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

                                  4683

                       2019-2020 Regular Sessions

                            I N  S E N A T E

                             March 20, 2019
                               ___________

Introduced  by Sen. KAVANAGH -- 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 and the
  real property tax law, in relation to requiring the court in  a  fore-
  closure action to provide notice to the former owner of the real prop-
  erty  of  the  right to apply for surplus moneys from the sale of such
  property

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

  Section  1.  Section 1354 of the real property actions and proceedings
law is amended by adding a new subdivision 5 to read as follows:
  5. THE COURT SHALL PROVIDE NOTICE TO THE FORMER OWNER OR OWNERS OF THE
FORECLOSED REAL PROPERTY OF THE EXISTENCE OF  SURPLUS  MONEYS  RESULTING
FROM  THE  SALE AND THEIR RIGHT TO FILE A WRITTEN NOTICE OF CLAIM TO ALL
OR A PORTION OF SUCH  PROCEEDS  PURSUANT  TO  SECTION  THIRTEEN  HUNDRED
SIXTY-ONE OF THIS ARTICLE.
  §  2. Section 1136 of the real property tax law is amended by adding a
new subdivision 4 to read as follows:
  4. NOTICE TO FORMER OWNERS. IN THE EVENT THE COURT DIRECTS THE SALE OF
REAL PROPERTY PURSUANT TO THIS SECTION, THE COURT SHALL  PROVIDE  NOTICE
TO  THE  FORMER  OWNER  OR  OWNERS  OF THE FORECLOSED REAL PROPERTY THAT
OWNERSHIP OF SUCH PROPERTY HAS BEEN TRANSFERRED TO A MUNICIPALITY  OR  A
TAX  DISTRICT,  THAT  AFTER  THE  SALE THEREOF THERE IS A POTENTIAL THAT
SURPLUS MONEYS MAY RESULT FROM THE SALE  AND  IN  THE  EVENT  A  SURPLUS
RESULTS,  SUCH  OWNER  OR  OWNERS  SHALL  HAVE A RIGHT TO FILE A WRITTEN
NOTICE OF CLAIM TO ALL OR A PORTION OF SUCH PROCEEDS PURSUANT TO SECTION
THIRTEEN HUNDRED SIXTY-ONE OF THE REAL PROPERTY ACTIONS AND  PROCEEDINGS
LAW.
  § 3. This act shall take effect immediately.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD04125-01-9

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