Senate Bill S7220A

2023-2024 Legislative Session

Relates to registration of mortgages in default

download bill text pdf

Sponsored By

Current Bill Status - In Senate Committee Housing, Construction And Community Development 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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Bill Amendments

2023-S7220 - Details

See Assembly Version of this Bill:
A7564
Current Committee:
Senate Housing, Construction And Community Development
Law Section:
Real Property Actions and Proceedings Law
Laws Affected:
Amd §1393, RPAP L

2023-S7220 - Summary

Modifies the cap on the registration fee for the registration of residential mortgages in default which may be imposed by a local law, ordinance or resolution.

2023-S7220 - Sponsor Memo

2023-S7220 - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   7220
 
                        2023-2024 Regular Sessions
 
                             I N  S E N A T E
 
                               May 18, 2023
                                ___________
 
 Introduced  by  Sen.  PARKER -- 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, in
   relation to registration of mortgages in default

   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1. Subdivision 3 of section 1393 of the real property actions
 and proceedings law, as added by chapter 600 of the  laws  of  2022,  is
 amended to read as follows:
   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] FIVE HUNDRED dollars [annually] SEMI-
 ANNUALLY. A mortgagee and/or its  agents  are  prohibited  from  passing
 along such fees to the mortgagor in default.
   § 2. This act shall take effect immediately.
 
 
 
 
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD11487-02-3

2023-S7220A (ACTIVE) - Details

See Assembly Version of this Bill:
A7564
Current Committee:
Senate Housing, Construction And Community Development
Law Section:
Real Property Actions and Proceedings Law
Laws Affected:
Amd §1393, RPAP L

2023-S7220A (ACTIVE) - Summary

Modifies the cap on the registration fee for the registration of residential mortgages in default which may be imposed by a local law, ordinance or resolution.

2023-S7220A (ACTIVE) - Sponsor Memo

2023-S7220A (ACTIVE) - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  7220--A
 
                        2023-2024 Regular Sessions
 
                             I N  S E N A T E
 
                               May 18, 2023
                                ___________
 
 Introduced  by  Sen.  PARKER -- read twice and ordered printed, and when
   printed to be committed to the Committee on Housing, Construction  and
   Community  Development  -- committee discharged, bill amended, ordered
   reprinted as amended and recommitted to said committee
 
 AN ACT to amend the  real  property  actions  and  proceedings  law,  in
   relation to registration of mortgages in default
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Subdivision 3 of section 1393 of the real property  actions
 and  proceedings  law,  as  added by chapter 600 of the laws of 2022, is
 amended to read as follows:
   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] FIVE HUNDRED dollars annually. A  mort-
 gagee  and/or  its agents are prohibited from passing along such fees to
 the mortgagor in default.
   § 2. This act shall take effect immediately.
 
 
 
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD11487-03-3

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