Bill Text: NY A01528 | 2021-2022 | General Assembly | Introduced
Bill Title: Relates to an officer's notification of a homeowner's balance after a debt is paid in full; provides that officers conducting a sale shall notify a homeowner of the balance in writing in a timely manner and shall clearly state that the debt is paid in full.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced - Dead) 2022-04-05 - enacting clause stricken [A01528 Detail]
Download: New_York-2021-A01528-Introduced.html
STATE OF NEW YORK ________________________________________________________________________ 1528 2021-2022 Regular Sessions IN ASSEMBLY January 11, 2021 ___________ Introduced by M. of A. PERRY -- read once and referred to the Committee on Judiciary AN ACT to amend the real property actions and proceedings law, in relation to an officer's notification of a homeowner's balance after a debt is paid in full The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. Subdivision 4 of section 1354 of the real property actions 2 and proceedings law, as renumbered by chapter 309 of the laws of 1996, 3 is renumbered subdivision 5 and a new subdivision 4 is added to read as 4 follows: 5 4. An officer conducting a sale shall notify, in a timely manner, a 6 homeowner in writing of a balance due to such homeowner after the sale 7 of the homeowner's home. Such officer shall state in such written notice 8 in clearly understood language that the debt is paid in full. 9 § 2. This act shall take effect immediately. EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD05012-01-1
