senate Bill S7293

2021-2022 Legislative Session

Relates to the rights of parties involved in foreclosure actions

download bill text pdf

Sponsored By

Current Bill Status - In Senate Committee Housing, Construction And Community Development 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 (2)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jan 05, 2022 referred to housing, construction and community development
Jul 16, 2021 referred to rules

Co-Sponsors

S7293 (ACTIVE) - Details

See Assembly Version of this Bill:
A7737
Current Committee:
Senate Housing, Construction And Community Development
Law Section:
Real Property Actions and Proceedings Law
Laws Affected:
Amd §1301, RPAP L; amd R3217, §205, add §205-a, CPLR

S7293 (ACTIVE) - Summary

Relates to the rights of parties involved in foreclosure actions; provides additional details regarding the commencement and termination of certain actions related to real property.

S7293 (ACTIVE) - Sponsor Memo

S7293 (ACTIVE) - Bill Text download pdf

 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   7293
 
                        2021-2022 Regular Sessions
 
                             I N  S E N A T E
 
                               July 16, 2021
                                ___________
 
 Introduced  by  Sen.  THOMAS -- read twice and ordered printed, and when
   printed to be committed to the Committee on Rules
 
 AN ACT to amend the real property actions and proceedings  law  and  the
   civil  practice  law  and  rules, in relation to the rights of parties
   involved in foreclosure actions

   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1. Subdivision 3 of section 1301 of the real property actions
 and proceedings law, as added by chapter 312 of the  laws  of  1962,  is
 amended and a new subdivision 4 is added to read as follows:
   3.  While the action is pending or after final judgment for the plain-
 tiff therein, no other  action  shall  be  commenced  or  maintained  to
 recover  any  part  of  the mortgage debt, without leave of the court in
 which the former action was  brought.  THIS  SUBDIVISION  SHALL  NOT  BE
 TREATED  AS  A STAY OR STATUTORY PROHIBITION FOR PURPOSES OF CALCULATING
 THE TIME WITHIN WHICH AN ACTION SHALL BE COMMENCED PURSUANT TO  SECTIONS
 TWO  HUNDRED FOUR AND TWO HUNDRED THIRTEEN OF THE CIVIL PRACTICE LAW AND
 RULES.
   4. IF AN ACTION TO COLLECT ANY PART OF THE MORTGAGE  DEBT  IS  ADJUDI-
 CATED  TO  BE BARRED BY THE APPLICABLE STATUTE OF LIMITATIONS, ANY OTHER
 ACTION SEEKING TO RECOVER ANY PART OF THE SAME MORTGAGE DEBT SHALL  ALSO
 BE BARRED BY THE STATUTE OF LIMITATIONS.
   §  2.  Rule  3217  of  the  civil practice law and rules is amended by
 adding a new subdivision (e) to read as follows:
   (E) EFFECT OF DISCONTINUANCE UPON CERTAIN INSTRUMENTS. IN  ANY  ACTION
 ON AN INSTRUMENT DESCRIBED UNDER SUBDIVISION FOUR OF SECTION TWO HUNDRED
 THIRTEEN OF THIS CHAPTER IN WHICH THE UNDERLYING INDEBTEDNESS WAS ACCEL-
 ERATED  BY THE COMMENCEMENT OF SUCH ACTION, THE VOLUNTARY DISCONTINUANCE
 OF SUCH ACTION, WHETHER ON MOTION OR BY STIPULATION, SHALL NOT HAVE  THE
 EFFECT  OF  REVOKING ACCELERATION UNLESS SUCH DISCONTINUANCE IS EFFECTED
 WITHIN SIX YEARS OF  THE  COMMENCEMENT  OF  THE  ACTION  AND  EXPLICITLY
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.

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