Bill Text: NY A06631 | 2015-2016 | General Assembly | Introduced

New York Assembly Bill 6631 (Prior Session Legislation)

Introduced

Bill Title: Relates to an officer's notification of a homeowner's balance after a debt is paid in full; provides that officers conducting a sale shall notify a homeowner of the balance in writing in a timely manner and shall clearly state that the debt is paid in full.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2016-01-06 - referred to judiciary [A06631 Detail]

Download: New_York-2015-A06631-Introduced.html

                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                         6631
                              2015-2016 Regular Sessions
                                 I N  A S S E M B L Y
                                    March 27, 2015
                                      ___________
       Introduced  by M. of A. PERRY -- read once and referred to the Committee
         on Judiciary
       AN ACT to amend the  real  property  actions  and  proceedings  law,  in
         relation to an officer's notification of a homeowner's balance after a
         debt is paid in full
         THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
       BLY, DO ENACT AS FOLLOWS:
    1    Section 1. Section 1354 of the real property actions  and  proceedings
    2  law is amended by adding a new subdivision 5 to read as follows:
    3    5. NOTIFICATION OF BALANCE. AN OFFICER CONDUCTING A SALE SHALL NOTIFY,
    4  IN  A  TIMELY  MANNER,  A  HOMEOWNER IN WRITING OF A BALANCE DUE TO SUCH
    5  HOMEOWNER AFTER THE SALE OF THE HOMEOWNER'S  HOME.  SUCH  OFFICER  SHALL
    6  STATE  IN  SUCH  WRITTEN  NOTICE IN CLEARLY UNDERSTOOD LANGUAGE THAT THE
    7  DEBT IS PAID IN FULL.
    8    S 2. This act shall take effect immediately.
        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD10171-01-5