Assembly Bill A8854

Signed By Governor
2021-2022 Legislative Session

Relates to complaints served in a proceeding initiated on a residential mortgage covering a one to four family dwelling

download bill text pdf

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Archive: Last Bill Status Via S7698 - Signed by Governor

  • 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-A8854 (ACTIVE) - Details

See Senate Version of this Bill:
S7698
Law Section:
Real Property Actions and Proceedings Law
Laws Affected:
Amd §1302, RPAP L (as proposed in S.5785-A & A.2502-A)

2021-A8854 (ACTIVE) - Summary

Relates to complaints served in a proceeding initiated on a residential mortgage covering a one to four family dwelling.

2021-A8854 (ACTIVE) - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   8854
 
                           I N  A S S E M B L Y
 
                             January 18, 2022
                                ___________
 
 Introduced  by  M.  of  A.  WEINSTEIN  --  read once and referred to the
   Committee on Judiciary
 
 AN ACT to amend the  real  property  actions  and  proceedings  law,  in
   relation  to complaints served in a proceeding initiated on a residen-
   tial mortgage covering a one to four family dwelling
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1.  Section 1302 of the real property actions and proceedings
 law, as amended by a chapter of the laws  of  2021,  amending  the  real
 property actions and proceedings law relating to foreclosure of residen-
 tial  mortgages  covering  one  to four family dwellings, as proposed in
 legislative bills numbers S. 5785-A and A. 2502-A, is amended to read as
 follows:
   § 1302. Foreclosure of certain residential mortgages. 1. Any complaint
 served in a proceeding initiated on a residential  mortgage  covering  a
 one  to  four  family  dwelling pursuant to this article must contain an
 affirmative allegation that at the time the proceeding is commenced, the
 plaintiff:
   (a) is the owner and holder of the subject mortgage and note,  or  has
 been  delegated the authority to institute a mortgage foreclosure action
 by the owner and holder of the subject mortgage and note; and
   (b) has complied with all of the provisions of  section  five  hundred
 ninety-five-a  of  the banking law and any rules and regulations promul-
 gated thereunder, AND section six-l or six-m of  the  banking  law,  for
 loans governed by [those provisions] SECTION SIX-L OR SIX-M OF THE BANK-
 ING LAW, and section thirteen hundred four of this article FOR ALL RESI-
 DENTIAL MORTGAGE LOANS COVERING A ONE TO FOUR FAMILY DWELLING.
   2. It shall be a defense to an action to foreclose a mortgage that the
 terms  of  the  home  loan  or  the  actions  of  the lender violate any
 provision of section six-l or six-m of the banking law or section  thir-
 teen  hundred  four  of  this  article,  FOR  LOANS  GOVERNED  BY  THESE
 PROVISIONS.
   § 2. This act shall take effect on the  same  date  and  in  the  same
 manner  as  a  chapter  of  the laws of 2021, amending the real property
 actions and proceedings law relating to foreclosure of residential mort-
 gages covering one to four family dwellings, as proposed in  legislative
 bills numbers S.  5785-A and A. 2502-A, takes effect.

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