Assembly Bill A1136

2023-2024 Legislative Session

Relates to the rights of parties involved in foreclosure actions

download bill text pdf

Sponsored By

Current 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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2023-A1136 (ACTIVE) - Details

Current Committee:
Assembly Judiciary
Law Section:
Civil Practice Law and Rules
Laws Affected:
Amd §§203 & 206, R3217, CPLR
Versions Introduced in 2021-2022 Legislative Session:
A7922

2023-A1136 (ACTIVE) - Summary

Relates to the rights of parties involved in foreclosure actions; relates to the effect of discontinuance of actions based upon certain instruments related to real property.

2023-A1136 (ACTIVE) - Bill Text download pdf

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   1136
 
                        2023-2024 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             January 13, 2023
                                ___________
 
 Introduced by M. of A. WALKER, ANDERSON, BURGOS, CARROLL, DAVILA, DILAN,
   EICHENSTEIN,  EPSTEIN,  FALL,  GALLAGHER,  HUNTER,  PAULIN,  RAJKUMAR,
   REYES, RIVERA, D. ROSENTHAL, VANEL, WEPRIN -- read once  and  referred
   to the Committee on Judiciary
 
 AN  ACT  to  amend  the civil practice law and rules, in relation to the
   rights of parties involved in foreclosure actions
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1. Section 203 of the civil practice law and rules is amended
 by adding a new subdivision (i) to read as follows:
   (I) CLARIFICATION. ONCE A CAUSE OF ACTION UPON AN INSTRUMENT DESCRIBED
 UNDER SUBDIVISION FOUR OF SECTION TWO HUNDRED THIRTEEN OF  THIS  ARTICLE
 HAS ACCRUED, NO PARTY MAY UNILATERALLY WAIVE, POSTPONE, CANCEL, OR RESET
 THE  ACCRUAL  THEREOF, OR OTHERWISE EFFECTUATE A UNILATERAL EXTENSION OF
 THE LIMITATIONS PERIOD PRESCRIBED BY LAW TO INTERPOSE THE CLAIM,  UNLESS
 EXPRESSLY PERMITTED BY LAW.
   §  2.  Section  206  of the civil practice law and rules is amended by
 adding a new subdivision (e) to read as follows:
   (E) BASED ON STANDARDIZED MORTGAGE INSTRUMENTS.  IN AN ACTION TO FORE-
 CLOSE UPON ANY UNIFORM OR MODEL MORTGAGE INSTRUMENT  SECURING REAL PROP-
 ERTY OR ANY INTEREST THEREIN, AS ADOPTED BY THE FEDERAL  NATIONAL  MORT-
 GAGE  ASSOCIATION  (FANNIE  MAE), FEDERAL HOME LOAN MORTGAGE CORPORATION
 (FREDDIE MAC), OR U.S.  DEPARTMENT  OF  HOUSING  AND  URBAN  DEVELOPMENT
 (HUD),  THE TIME WITHIN WHICH THE ACTION MUST BE COMMENCED AND THE CLAIM
 INTERPOSED SHALL BE COMPUTED FROM THE TIME THE RIGHT TO DEMAND IMMEDIATE
 PAYMENT IN FULL OF ALL SUMS SO SECURED THEREBY MAY BE  EXERCISED.    FOR
 PURPOSES  OF THIS SUBDIVISION ONLY, THERE SHALL BE A REBUTTABLE PRESUMP-
 TION THAT ALL SUBSTANTIVE CONDITIONS PRECEDENT TO ACCRUAL OF A CAUSE  OF
 ACTION TO FORECLOSE UPON ANY SUCH MORTGAGE INSTRUMENT, IF ANY, HAVE BEEN
 SATISFIED.  THE  PRESUMPTION  MAY  BE  REBUTTED  BY CLEAR AND CONVINCING
 EVIDENCE. NOTHING CONTAINED HEREIN SHALL GIVE RISE  TO  THE  PRESUMPTION
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD04666-01-3
              

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