Yonkers Insider: Senate Bill Guaranteeing Protections for Tenants of Foreclosed Buildings Signed into Law

Prior Law Allowed Tenants to be Forced from Homes without Notice

Senator Andrea Stewart-Cousins (35th District – D/WF) announced that a new law guaranteeing greater protections (S7139) for tenants of buildings in foreclosure has been signed into law. Under the new law, rent-regulated tenants are now required to receive a notice of their housing rights, along with a notice of the building owner’s foreclosure. The bill takes effect 30 days from the date of signing.

A review of the state’s prior notification requirement for renters revealed that existing law failed to effectively communicate to rent-controlled and rent-stabilized tenants that their housing rights are unaffected by a foreclosure proceeding.

To empower tenants and curb misleading landlord behavior, this law also requires the foreclosing entity to provide a name, address, and phone number so that affected parties may know whom they are receiving information from and can contact them for additional questions and concerns. Previously, tenants had great difficulty accessing this information…

Yonkers Insider – (August 17, 2010)

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