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Assembly Bill A5241

2023-2024 Legislative Session

Requires a mortgagor to provide notice of imminent foreclosure

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Archive: Last Bill Status - Stricken

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2023-A5241 (ACTIVE) - Details

Law Section:
Real Property Law
Laws Affected:
Add §235-j, RP L
Versions Introduced in Other Legislative Sessions:
2017-2018: A7095
2019-2020: A6851
2021-2022: A5529

2023-A5241 (ACTIVE) - Summary

Relates to requiring a mortgagor to provide notice of imminent foreclosure to his or her tenant or prospective tenant prior to he or she renewing or signing a lease agreement.

2023-A5241 (ACTIVE) - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   5241
 
                        2023-2024 Regular Sessions
 
                           I N  A S S E M B L Y
 
                               March 7, 2023
                                ___________
 
 Introduced by M. of A. WILLIAMS -- read once and referred to the Commit-
   tee on Judiciary
 
 AN  ACT to amend the real property law, in relation to requiring a mort-
   gagor to provide notice of imminent foreclosure to his or  her  tenant
   or tenants
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. The real property law is amended by adding  a  new  section
 235-j to read as follows:
   §  235-J.  IMMINENT FORECLOSURE. 1. AS USED IN THIS SECTION, "IMMINENT
 FORECLOSURE" SHALL MEAN A MORTGAGOR HAS RECEIVED NOTICE  OF  FORECLOSURE
 DELIVERED ALONG WITH A SUMMONS AND COMPLAINT, AS REQUIRED IN SUBDIVISION
 TWO  OF  SECTION THIRTEEN HUNDRED THREE OF THE REAL PROPERTY ACTIONS AND
 PROCEEDINGS LAW.
   2. A MORTGAGOR SHALL, PRIOR TO THE TENANT OR PROSPECTIVE TENANT EITHER
 RENEWING OR SIGNING A LEASE AGREEMENT, DISCLOSE TO HIS OR HER TENANT  OR
 PROSPECTIVE TENANT OF IMMINENT FORECLOSURE.
   § 2. This act shall take effect immediately.
 
 
 
 

  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD02718-01-3

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