Assembly Bill A1528

2021-2022 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 - Stricken

  • 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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2021-A1528 (ACTIVE) - Details

Law Section:
Real Property Actions and Proceedings Law
Laws Affected:
Amd §1354, RPAP L
Versions Introduced in Other Legislative Sessions:
2015-2016: A6631
2017-2018: A2614
2019-2020: A1362

2021-A1528 (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.

2021-A1528 (ACTIVE) - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   1528
 
                        2021-2022 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             January 11, 2021
                                ___________
 
 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. Subdivision 4 of section 1354 of the real property  actions
 and  proceedings  law, as renumbered by chapter 309 of the laws of 1996,
 is renumbered subdivision 5 and a new subdivision 4 is added to read  as
 follows:
   4.  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.
   § 2. This act shall take effect immediately.
 
 
 
 
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD05012-01-1

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