Bill Text: NY A10553 | 2019-2020 | General Assembly | Introduced

NOTE: There are more recent revisions of this legislation. Read Latest Draft

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Bill Title: Imposes a temporary ban on the commencement of mortgage foreclosure actions and the sale of foreclosed properties for 365 days after the last region or county enters into phase 3 of the governor's reopening plan relating to the COVID-19 pandemic.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2020-07-08 - print number 10553b [A10553 Detail]

Download: New_York-2019-A10553-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________

                                          10553

                   IN ASSEMBLY

                                      May 29, 2020
                                       ___________

        Introduced  by COMMITTEE ON RULES -- (at request of M. of A. Hyndman) --
          read once and referred to the Committee on Judiciary

        AN ACT to amend the  real  property  actions  and  proceedings  law,  in
          relation  to  imposing a temporary ban on the commencement of mortgage
          foreclosure actions and the sale of foreclosed properties; and provid-
          ing for the repeal of such provisions upon expiration thereof

          The People of the State of New York, represented in Senate and  Assem-
        bly, do enact as follows:

     1    Section 1. The real property actions and proceedings law is amended by
     2  adding a new section 1393 to read as follows:
     3    §  1393.  Temporary ban on foreclosure actions and sales of foreclosed
     4  properties. 1.  If a mortgage foreclosure action for  a  residential  or
     5  commercial  real property is filed in a court during the covered period,
     6  the court shall stay the proceedings until a date following the  end  of
     7  the covered period, to be determined by the court.
     8    2. Any sale, foreclosure, or seizure, for a breach of an obligation by
     9  a  mortgagor,  under  this  chapter, of a residential or commercial real
    10  property shall be prohibited during the covered period.
    11    3. For the purposes of this section, the  term  "the  covered  period"
    12  shall  mean  the  period of time beginning on the effective date of this
    13  section and ending on the one hundred twentieth day following the effec-
    14  tive date of this section.
    15    § 2. This act shall take effect immediately and shall  expire  and  be
    16  deemed repealed 1 year after such effective date.




         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD16379-01-0