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