Bill Text: NY S03823 | 2025-2026 | General Assembly | Introduced

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Bill Title: Provides for the appointment of foreclosure receivers and managing agents in cities having a population of one million or more.

Spectrum: Partisan Bill (Democrat 2-0)

Status: (Introduced) 2025-01-30 - REFERRED TO HOUSING, CONSTRUCTION AND COMMUNITY DEVELOPMENT [S03823 Detail]

Download: New_York-2025-S03823-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________

                                          3823

                               2025-2026 Regular Sessions

                    IN SENATE

                                    January 30, 2025
                                       ___________

        Introduced  by  Sens.  RIVERA, PARKER -- read twice and ordered printed,
          and when  printed  to  be  committed  to  the  Committee  on  Housing,
          Construction and Community Development

        AN  ACT  to  amend  the  real  property  actions and proceedings law, in
          relation to the appointment of receivers in  actions  to  foreclose  a
          mortgage

          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 1325 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. (a) Where the action is for the foreclosure of a mortgage providing
     5  that a receiver may be appointed without notice, notice of a motion  for
     6  such appointment shall not be required.
     7    (b)  In  a  city  with a population of one million or more, the agency
     8  having jurisdiction for administering and enforcing the laws, rules  and
     9  regulations relating to the operation, repair or maintenance of residen-
    10  tial  real  property may submit to the chief administrative judge of the
    11  supreme court a list of persons such agency has determined to be  quali-
    12  fied  to  be appointed as a receiver or as a managing agent.  Where such
    13  agency submits such list to the chief administrative  judge,  the  court
    14  may  only  appoint  a receiver whose name appears on such list, and such
    15  receiver may only appoint a managing agent whose name  appears  on  such
    16  list.
    17    § 2. This act shall take effect immediately.



         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD06548-01-5