Bill Text: NY A04763 | 2017-2018 | General Assembly | Introduced

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Bill Title: Relates to notifying homeowners whose property netted a surplus at a tax foreclosure auction.

Spectrum: Partisan Bill (Democrat 7-0)

Status: (Introduced - Dead) 2017-12-15 - enacting clause stricken [A04763 Detail]

Download: New_York-2017-A04763-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________
                                          4763
                               2017-2018 Regular Sessions
                   IN ASSEMBLY
                                    February 3, 2017
                                       ___________
        Introduced by M. of A. KEARNS -- read once and referred to the Committee
          on Judiciary
        AN  ACT  to  amend  the  real  property  actions and proceedings law, in
          relation to notifying homeowners whose property netted a surplus at  a
          tax foreclosure auction
          The  People of the State of New York, represented in Senate and Assem-
        bly, do enact as follows:
     1    Section 1. Section 1303 of the real property actions  and  proceedings
     2  law is amended by adding a new subdivision 8 to read as follows:
     3    8.  (a)  A municipality shall notify a property owner when the owner's
     4  property netted a surplus at a tax foreclosure auction that was held  on
     5  or  after January first, two thousand nine. The notification shall state
     6  the possible existence of a surplus,  how  to  obtain  the  surplus  and
     7  contact  information  for free legal services if available and the steps
     8  the homeowner must take to obtain the surplus. In this section,  surplus
     9  shall mean the amount that is left after the property has been auctioned
    10  and  all  outstanding  taxes, issues payments for county tax and utility
    11  liens and administrative and other fees have been paid.
    12    (b) Municipalities shall make a reasonable effort to  notify  property
    13  owners by the use of mail, telephone or electronic mail within a reason-
    14  able time of the tax foreclosure auction.
    15    (c)  Municipalities  may  charge  property  owners a reasonable fee to
    16  cover the notification expenses. Municipalities shall not charge  a  fee
    17  of more than five percent of the total surplus in cases where a homeown-
    18  er nets a surplus in excess of one thousand dollars.
    19    § 2. This act shall take effect immediately.
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD09343-01-7