NY Senate Passes Law to Provide Greater Protections for Victims of Deed Theft

Brooklyn State Senator Velmanette Montgomery’s “Deed Theft Bill,” a new law aimed to provide greater protections for homeowners whose properties are either in default or foreclosure, passed on Wednesday the New York State Senate and now awaits Governor Andrew Cuomo’s signature. 

Montgomery’s bill expands upon the 2006 Home Equity Theft Act, a law that provides homeowners with information to make informed decisions when approached by persons seeking a sale or transfer of the homeowner’s property. The Deed Theft Bill will also strengthen laws regulating distressed property “consultants” who provide services to prevent property loss.

“Passing the Deed Theft Bill is a major step forward in addressing one of the most pressing issues among homeowners, “said Montgomery. who represents the 25th State Senate District including Fort Greene and Bedford Stuyvesant. “These thieves target our most vulnerable homeowners and snatch generations of wealth from our families.”

To read the full article, visit https://www.bkreader.com/2019/04/09/new-law-provides-greater-protections-for-victims-of-deed-theft/