Assembly Bill A6631

2015-2016 Legislative Session

Relates to an officer's notification of a homeowner's balance after a debt is paid in full

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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-A6631 (ACTIVE) - Details

Current Committee:
Assembly Judiciary
Law Section:
Real Property Actions and Proceedings Law
Laws Affected:
Amd ยง1354, RPAP L
Versions Introduced in Other Legislative Sessions:
2017-2018: A2614
2019-2020: A1362
2021-2022: A1528

2015-A6631 (ACTIVE) - Summary

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.

2015-A6631 (ACTIVE) - Bill Text download pdf 

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

                                  6631

                       2015-2016 Regular Sessions

                          I N  A S S E M B L Y

                             March 27, 2015
                               ___________

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:

  Section 1. Section 1354 of the real property actions  and  proceedings
law is amended by adding a new subdivision 5 to read as follows:
  5. NOTIFICATION OF BALANCE. AN OFFICER CONDUCTING A SALE SHALL NOTIFY,
IN  A  TIMELY  MANNER,  A  HOMEOWNER IN WRITING OF A BALANCE DUE TO SUCH
HOMEOWNER AFTER THE SALE OF THE HOMEOWNER'S  HOME.  SUCH  OFFICER  SHALL
STATE  IN  SUCH  WRITTEN  NOTICE IN CLEARLY UNDERSTOOD LANGUAGE THAT THE
DEBT IS PAID IN FULL.
  S 2. This act shall take effect immediately.






 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD10171-01-5

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