Senate Bill S6524

2023-2024 Legislative Session

Requires a mortgagor to provide notice of imminent foreclosure

download bill text pdf

Sponsored By

Current 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

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2023-S6524 (ACTIVE) - Details

Current Committee:
Senate Judiciary
Law Section:
Real Property Law
Laws Affected:
Add §235-j, RP L
Versions Introduced in Other Legislative Sessions:
2017-2018: S5378
2019-2020: S1055
2021-2022: S57

2023-S6524 (ACTIVE) - Summary

Requires 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-S6524 (ACTIVE) - Sponsor Memo

2023-S6524 (ACTIVE) - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   6524
 
                        2023-2024 Regular Sessions
 
                             I N  S E N A T E
 
                              April 25, 2023
                                ___________
 
 Introduced  by  Sen. PERSAUD -- 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 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.
   3. A MORTGAGOR SHALL SEND A COPY OF THE ORIGINAL SUMMONS AND COMPLAINT
 BY CERTIFIED MAIL TO A TENANT OR PERSPECTIVE TENANT AT LEAST  TWO  WEEKS
 PRIOR TO EITHER RENEWING OR SIGNING A LEASE AGREEMENT.
   4.  A MORTGAGOR WHO FAILS TO DISCLOSE TO HIS OR HER TENANT OR PROSPEC-
 TIVE TENANT PRIOR TO EITHER RENEWING OR SIGNING A LEASE AGREEMENT  SHALL
 PAY A CREDIT OF FIVE HUNDRED DOLLARS TO THE TENANT OR PROSPECTIVE TENANT
 AGAINST THE AGREED UPON RENTAL PRICE OF THE LEASE AGREEMENT PER FAILURE,
 IN ADDITION TO ANY OTHER EXISTING EQUITABLE OR STATUTORY REMEDY.
   § 2. This act shall take effect immediately.
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD02718-02-3

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