Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
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Jan 06, 2016 |
referred to judiciary |
Feb 17, 2015 |
referred to judiciary |
Senate Bill S3767
2015-2016 Legislative Session
Sponsored By
(D) 10th Senate District
Archive: Last Bill Status - In Senate Committee Judiciary 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
Actions
2015-S3767 (ACTIVE) - Details
2015-S3767 (ACTIVE) - Sponsor Memo
BILL NUMBER:S3767 TITLE OF BILL: An act to amend the real property law, in relation to prohibiting mortgagors from recovering attorney's fees and/or expenses incurred during a foreclosure PURPOSE: To prohibit the required payment of mortgagor's legal fees by, a mortgagee in a foreclosure proceeding for residential real property. SUMMARY OF PROVISIONS: Section 282 of the real property law is amended to prohibit mortgagors from requiring that a mortgagee in a foreclosure proceeding of a residential real property be required to pay the legal fees of mortgagor. JUSTIFICATION: As our state and our nation slowly recover from the nation's financial crisis, many homeowners are still trying to recover from the financial impact of the crisis. Unemployment and massive foreclosures have crippled our economy and have made the recovery from the crisis very
2015-S3767 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 3767 2015-2016 Regular Sessions I N S E N A T E February 17, 2015 ___________ Introduced by Sen. SANDERS -- read twice and ordered printed, and when printed to be committed to the Committee on Judiciary AN ACT to amend the real property law, in relation to prohibiting mort- gagors from recovering attorney's fees and/or expenses incurred during a foreclosure THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Section 282 of the real property law, as added by chapter 550 of the laws of 2010, is amended to read as follows: S 282. [Mortgagor's right to recover] MORTGAGORS PROHIBITED FROM RECOVERING attorneys' fees in actions or proceedings arising out of foreclosures of residential property. 1. [Whenever a covenant contained in a mortgage on residential real property shall provide that in any action or proceeding to foreclose the mortgage that the mortgagee may recover attorneys' fees and/or expenses incurred as the result of the failure of the mortgagor to perform any covenant or agreement contained in such mortgage, or that amounts paid by the mortgagee therefor shall be paid by the mortgagor as additional payment, there shall be implied in such mortgage a covenant by the mortgagee to pay to the mortgagor the reasonable] IN THE FORECLOSURE OF RESIDENTIAL PROPERTY MORTGAGORS ARE PROHIBITED FROM RECOVERING FROM THE MORTGAGEES ANY attorneys' fees and/or expenses incurred by the mortgagor as the result of the failure of the mortgagee to perform any covenant or agreement on its part to be performed under the mortgage or in the successful defense of any action or proceeding commenced by the mortgagee against the mortgagor arising out of the contract, and an agreement that such fees and expenses may be recovered [as provided by law in an action commenced against the mortga- gee or by way of counterclaim in any action or proceeding commenced by the mortgagee against the mortgagor. Any waiver of this section shall be void as against public policy] IS VOID. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD08802-01-5
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