Senate Bill S4049

2017-2018 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

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Sponsored By

Archive: Last Bill Status - In Senate Committee Housing, Construction And Community Development 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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2017-S4049 (ACTIVE) - Details

See Assembly Version of this Bill:
A4291
Current Committee:
Senate Housing, Construction And Community Development
Law Section:
Real Property Actions and Proceedings Law
Laws Affected:
Amd §1351, RPAP L
Versions Introduced in Other Legislative Sessions:
2009-2010: S1771
2011-2012: S3148, A6745
2013-2014: S347, A7154
2015-2016: S5228, A8677

2017-S4049 (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.

2017-S4049 (ACTIVE) - Sponsor Memo

2017-S4049 (ACTIVE) - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
     S. 4049                                                  A. 4291
 
                        2017-2018 Regular Sessions
 
                       S E N A T E - A S S E M B L Y
 
                             February 2, 2017
                                ___________
 
 IN SENATE -- Introduced by Sen. LAVALLE -- read twice and ordered print-
   ed,  and  when  printed  to  be committed to the Committee on Housing,
   Construction and Community Development
 
 IN ASSEMBLY -- 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 amended by section 8 of part Q of chapter 73 of
 the laws of 2016, 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 within
 ninety days of the date of the judgment.  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.
   § 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.
                                                            LBD04110-01-7

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