Assembly Bill A1226

2015-2016 Legislative Session

Prohibits mortgagee from refusing to accept partial mortgage payments

download bill text pdf

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Archive: Last Bill Status - In Assembly 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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2015-A1226 (ACTIVE) - Details

See Senate Version of this Bill:
S233
Current Committee:
Assembly Judiciary
Law Section:
Real Property Law
Laws Affected:
Add ยง254-e, RP L
Versions Introduced in Other Legislative Sessions:
2011-2012: A8040, S6541
2013-2014: A2069, A9276, S317
2017-2018: A5376, S4954
2019-2020: A6061, S5355
2021-2022: S3710
2023-2024: S1705

2015-A1226 (ACTIVE) - Summary

Prohibits mortgagee from refusing to accept partial mortgage payments.

2015-A1226 (ACTIVE) - Bill Text download pdf 

                            
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  1226

                       2015-2016 Regular Sessions

                          I N  A S S E M B L Y

                             January 8, 2015
                               ___________

Introduced by M. of A. TITUS, JAFFEE, MILLER, WEPRIN, HOOPER, ROSENTHAL,
  ROBINSON,  COOK,  STECK  -- read once and referred to the Committee on
  Judiciary

AN ACT to amend the real property law, in relation to prohibiting  mort-
  gagee from refusing to accept partial mortgage payments

  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
254-e to read as follows:
  S  254-E. REFUSAL BY MORTGAGEE TO ACCEPT PARTIAL MORTGAGE PAYMENTS. 1.
NO MORTGAGEE SHALL REFUSE TO ACCEPT  A  PARTIAL  PAYMENT  OF  AN  ENTIRE
AMOUNT  DUE  FROM A MORTGAGOR WHICH DOES NOT BRING THE MORTGAGOR CURRENT
ON HIS OR HER MORTGAGE DEBT.
  2. THE PROVISIONS OF THIS SECTION SHALL NOT BAR ANY OTHER  CONTRACTUAL
OR STATUTORY RIGHTS OR REMEDIES AVAILABLE TO A MORTGAGOR.
  S  2.  This  act shall take effect on the thirtieth day after it shall
have become a law.





 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD00366-01-5

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