Bill Text: NY A01725 | 2019-2020 | General Assembly | Introduced

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Bill Title: Relates to required notices in a residential mortgage foreclosure action.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2020-01-08 - referred to judiciary [A01725 Detail]

Download: New_York-2019-A01725-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________
                                          1725
                               2019-2020 Regular Sessions
                   IN ASSEMBLY
                                    January 16, 2019
                                       ___________
        Introduced  by  M.  of  A.  MAGNARELLI  -- read once and referred to the
          Committee on Judiciary
        AN ACT to amend the  real  property  actions  and  proceedings  law,  in
          relation  to  required  notices  in a residential mortgage foreclosure
          action
          The People of the State of New York, represented in Senate and  Assem-
        bly, do enact as follows:
     1    Section  1.  Section 1303 of the real property actions and proceedings
     2  law is amended by adding a new subdivision 8 to read as follows:
     3    8. If the plaintiff in a residential mortgage  foreclosure  action  is
     4  other  than  a  natural person, the plaintiff shall notify the municipal
     5  clerk of the municipality in which the real property is  located  within
     6  five calendar days of the filing of the notice of pendency for the fore-
     7  closure action.
     8    §  2.  This  act  shall take effect on the sixtieth day after it shall
     9  have become a law.
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD00206-01-9