Assembly Bill A8677

2015-2016 Legislative Session

Provides that the judgment of sale in a mortgage foreclosure action shall direct that each individual of a group purchasing the premises disclose his or her name

download bill text pdf

Sponsored By

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

Do you support this bill?

Please enter your contact information

Home address is used to determine the senate district in which you reside. Your support or opposition to this bill is then shared immediately with the senator who represents you.

Optional services from the NY State Senate:

Create an account. An account allows you to officially support or oppose key legislation, sign petitions with a single click, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.

Include a custom message for your Senator? (Optional)

Enter a message to your senator. Many New Yorkers use this to share the reasoning behind their support or opposition to the bill. Others might share a personal anecdote about how the bill would affect them or people they care about.
Actions

2015-A8677 (ACTIVE) - Details

See Senate Version of this Bill:
S5228
Current Committee:
Assembly Judiciary
Law Section:
Real Property Actions and Proceedings Law
Laws Affected:
Amd ยง1351, RPAP L
Versions Introduced in Other Legislative Sessions:
2009-2010: S1771
2011-2012: A6745, S3148
2013-2014: A7154, S347
2017-2018: A4291, S4049

2015-A8677 (ACTIVE) - Summary

Provides that the judgment of sale in a mortgage foreclosure action shall direct that in the event such premises is purchased collectively by more than one individual, the names of each individual purchaser shall be disclosed in writing to the sheriff of the county or referee conducting the sale.

2015-A8677 (ACTIVE) - Bill Text download pdf 

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

                                  8677

                          I N  A S S E M B L Y

                            January 12, 2016
                               ___________

Introduced by M. of A. THIELE -- read once and referred to the Committee
  on Judiciary

AN  ACT  to  amend  the  real  property  actions and proceedings law, in
  relation to the purchase of the premises  at  a  mortgage  foreclosure
  sale by a group

  THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1. Subdivision 1 of section 1351 of the real property  actions
and  proceedings  law,  as  added by chapter 312 of the laws of 1962, is
amended to read as follows:
  1. The judgment shall direct that the mortgaged premises, or  so  much
thereof  as  may  be  sufficient  to  discharge  the  mortgage debt, the
expenses of the sale and the costs of the action, and which may be  sold
separately without material injury to the parties interested, be sold by
or  under the direction of the sheriff of the county, or a referee.  THE
JUDGMENT SHALL DIRECT THAT IN  THE  EVENT  SUCH  PREMISES  IS  PURCHASED
COLLECTIVELY  BY  MORE THAN ONE INDIVIDUAL, THE NAMES OF EACH INDIVIDUAL
PURCHASER SHALL BE DISCLOSED IN WRITING TO SUCH SHERIFF OR REFEREE.
  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.
                                                           LBD10979-01-5

Comments

Open Legislation is a forum for New York State legislation. All comments are subject to review and community moderation is encouraged.

Comments deemed off-topic, commercial, campaign-related, self-promotional; or that contain profanity, hate or toxic speech; or that link to sites outside of the nysenate.gov domain are not permitted, and will not be published. Attempts to intimidate and silence contributors or deliberately deceive the public, including excessive or extraneous posting/posts, or coordinated activity, are prohibited and may result in the temporary or permanent banning of the user. Comment moderation is generally performed Monday through Friday. By contributing or voting you agree to the Terms of Participation and verify you are over 13.

Create an account. An account allows you to sign petitions with a single click, officially support or oppose key legislation, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.