Bill Text: NY A11258 | 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 (Republican 1-0)

Status: (Introduced - Dead) 2018-07-25 - referred to judiciary [A11258 Detail]

Download: New_York-2017-A11258-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________
                                          11258
                   IN ASSEMBLY
                                      July 25, 2018
                                       ___________
        Introduced  by  COMMITTEE  ON RULES -- (at request of M. of A. Bohen) --
          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