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Senate Bill S9309

2025-2026 Legislative Session

Enacts the "deed protection act"

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Sponsored By

Current Bill Status - In Senate Committee Banks Committee

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2025-S9309 (ACTIVE) - Details

Current Committee:
Senate Banks
Law Section:
Banking Law
Laws Affected:
Add §6-q, Bank L

2025-S9309 (ACTIVE) - Summary

Enacts the "deed protection act" in relation to prohibiting a financial institution from taking possession of a property based on the failure to repay a loan provided by such financial institution for such property if such loan was provided to a person who obtained title to such property by deed theft and such financial institution failed to conduct due diligence to determine whether any such deed theft had occurred.

2025-S9309 (ACTIVE) - Sponsor Memo

2025-S9309 (ACTIVE) - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   9309
 
                             I N  S E N A T E
 
                             February 27, 2026
                                ___________
 
 Introduced  by Sen. BRISPORT -- read twice and ordered printed, and when
   printed to be committed to the Committee on Banks
 
 AN ACT to amend the banking law,  in  relation  to  enacting  the  "deed
   protection act"
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:

   Section 1. Short title. This act shall be known and may  be  cited  as
 the "deed protection act".
   § 2. The banking law is amended by adding a new section 6-q to read as
 follows:
   §  6-Q.  LOANS  OBTAINED BY DEED THEFT. NO FINANCIAL INSTITUTION SHALL
 TAKE POSSESSION OF ANY PROPERTY BASED ON THE FAILURE TO REPAY  ANY  LOAN
 PROVIDED  BY  SUCH  FINANCIAL INSTITUTION FOR SUCH PROPERTY IF SUCH LOAN
 WAS PROVIDED TO A PERSON WHO OBTAINED THE TITLE TO SUCH PROPERTY BY DEED
 THEFT, AND SUCH FINANCIAL INSTITUTION FAILED TO CONDUCT  REASONABLE  DUE
 DILIGENCE  TO  DETERMINE  WHETHER SUCH PERSON OBTAINED THE TITLE TO SUCH
 PROPERTY BY DEED THEFT PRIOR TO PROVIDING SUCH LOAN TO SUCH PERSON.
   § 3. This act shall take effect immediately.
 
 
 
 
 

  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD14344-02-6

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