Assembly Bill A10044

2019-2020 Legislative Session

Relates to foreclosure by action in rem

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

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2019-A10044 (ACTIVE) - Details

Current Committee:
Assembly Judiciary
Law Section:
New York City Administrative Code
Laws Affected:
Amd §11-404, NYC Ad Cd
Versions Introduced in Other Legislative Sessions:
2021-2022: A4780
2023-2024: A909

2019-A10044 (ACTIVE) - Summary

Places additional notice requirements on the city when conveying a property to a third party.

2019-A10044 (ACTIVE) - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   10044
 
                           I N  A S S E M B L Y
 
                               March 5, 2020
                                ___________
 
 Introduced by M. of A. JOYNER -- read once and referred to the Committee
   on Judiciary
 
 AN  ACT  to  amend  the  administrative code of the city of New York, in
   relation to foreclosure by action in rem
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1.  Section  11-404 of the administrative code of the city of
 New York is amended by adding a new subdivision c to read as follows:
   C. (1) IF THE CITY SHALL INTEND FOR A PROPERTY DEFINED IN  SUBDIVISION
 B  OF  THIS SECTION TO BE CONVEYED TO A THIRD PARTY PURSUANT TO SUBDIVI-
 SION B OF SECTION 11-412.1 OF THIS CHAPTER THE CITY OR SUPERVISING AGEN-
 CY SHALL FIRST DO THE FOLLOWING TO ADDRESS OUTSTANDING ISSUES WITH  SUCH
 PROPERTY:
   (I)  NOTIFY THE OWNER OR BOARD OF A COMPANY THAT OWNS THE PROPERTY, IF
 THERE IS ONE, AND THE PROPERTY MANAGEMENT ENTITY, IF THERE  IS  ONE,  OF
 ANY AND ALL MATTERS THAT COULD RESULT IN A SIGNIFICANT ACTION; AND
   (II)  NOTIFY  RESIDENTS,  INDIVIDUALLY AND SEPARATELY FROM ATTEMPTS TO
 NOTIFY THE OWNER OR THE BOARD, THAT SIGNIFICANT ADVERSE ACTIONS  AGAINST
 THE  COMPANY  OR ITS REAL ESTATE ARE IMMINENT AND DESCRIBE THE DEFICIEN-
 CIES THAT HAVE MADE SUCH ADVERSE ACTIONS POSSIBLE.
   (2) FAILURE TO MEET THE REQUIREMENTS OF THIS SUBDIVISION SHALL PREVENT
 THE PROPERTY FROM BEING CONVEYED TO A THIRD PARTY.
   (3) IF AN OWNER OR BOARD OF A COMPANY THAT OWNS THE PROPERTY  RECEIVES
 NOTICE  FROM  A  CITY OR SUPERVISING AGENCY IT SHALL NOTIFY THE PROPERTY
 MANAGEMENT ENTITY AND ALL TENANTS AND SHAREHOLDERS SEPARATELY  FROM  ANY
 NOTIFICATION  BY THE CITY OR SUPERVISING AGENCY. IF THE PROPERTY MANAGE-
 MENT ENTITY RECEIVES NOTICE, IT SHALL NOTIFY THE OWNER OR BOARD.
   § 2. This act shall take effect on the ninetieth day  after  it  shall
 have become a law.
 

  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD15217-05-0

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