Bill Text: NY A08677 | 2015-2016 | General Assembly | Introduced
Bill Title: Provides that the judgment of sale in a mortgage foreclosure action shall direct that in the event such premises is purchased collectively by more than one individual, the names of each individual purchaser shall be disclosed in writing to the sheriff of the county or referee conducting the sale.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced - Dead) 2016-01-12 - referred to judiciary [A08677 Detail]
Download: New_York-2015-A08677-Introduced.html
STATE OF NEW YORK ________________________________________________________________________ 8677 IN ASSEMBLY January 12, 2016 ___________ Introduced by M. of A. THIELE -- read once and referred to the Committee on Judiciary AN ACT to amend the real property actions and proceedings law, in relation to the purchase of the premises at a mortgage foreclosure sale by a group The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. Subdivision 1 of section 1351 of the real property actions 2 and proceedings law, as added by chapter 312 of the laws of 1962, is 3 amended to read as follows: 4 1. The judgment shall direct that the mortgaged premises, or so much 5 thereof as may be sufficient to discharge the mortgage debt, the 6 expenses of the sale and the costs of the action, and which may be sold 7 separately without material injury to the parties interested, be sold by 8 or under the direction of the sheriff of the county, or a referee. The 9 judgment shall direct that in the event such premises is purchased 10 collectively by more than one individual, the names of each individual 11 purchaser shall be disclosed in writing to such sheriff or referee. 12 § 2. This act shall take effect on the thirtieth day after it shall 13 have become a law. EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD10979-01-5
