Bill Text: NY A00474 | 2015-2016 | General Assembly | Amended
Bill Title: Relates to the disposition of surplus funds resulting from a tax lien foreclosure sale in the city of Buffalo; provides that a judgment may be entered, upon request of the tax district, without such district taking title to the property.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced - Dead) 2016-01-15 - print number 474a [A00474 Detail]
Download: New_York-2015-A00474-Amended.html
STATE OF NEW YORK ________________________________________________________________________ 474--A 2015-2016 Regular Sessions IN ASSEMBLY (Prefiled) January 7, 2015 ___________ Introduced by M. of A. RYAN -- read once and referred to the Committee on Real Property Taxation -- recommitted to the Committee on Real Property Taxation in accordance with Assembly Rule 3, sec. 2 -- committee discharged, bill amended, ordered reprinted as amended and recommitted to said committee AN ACT relating to final judgment in foreclosures by in rem proceedings in the city of Buffalo The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. Final judgment; proceedings in the city of Buffalo. 2 Notwithstanding the provisions of section 1136 of the real property tax 3 law, the following provisions shall apply to final judgments in in rem 4 proceedings taken in the city of Buffalo. 1. Generally. The court shall 5 have full power to determine and enforce in all respects the priorities, 6 rights, claims and demands of the several parties to the proceeding, as 7 the same exist according to law, including the priorities, rights, 8 claims and demands of the respondents as between themselves. The court 9 shall further determine upon proof and shall make findings upon such 10 proof whether there has been due compliance by the tax district with the 11 provisions of article 11 of the real property tax law. 12 2. When an answer has been interposed. (a) When an answer has been 13 interposed by a party other than a tax district as to any parcel of real 14 property included in the petition described in section 1123 of the real 15 property tax law and the court determines that the answer is meritori- 16 ous, the court shall dismiss the petition of foreclosure, with or with- 17 out prejudice, as to the affected parcel or parcels, unless an agreement 18 is executed pursuant to subdivision 2 of section 1150 of the real prop- 19 erty tax law. If the court determines that the answer is not meritori- 20 ous, the court shall make a final judgment awarding to such tax district EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD00616-02-5
