Bill Text: NY S07295 | 2015-2016 | General Assembly | Introduced

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Bill Title: Permits a municipality to compel a mortgagee to either complete a mortgage foreclosure proceeding or to issue a certificate of discharge of the mortgage for any property which has been certified abandoned pursuant to section 1971 of the real property actions and proceedings law.

Spectrum: Partisan Bill (Republican 5-0)

Status: (Introduced - Dead) 2016-04-13 - REFERRED TO HOUSING, CONSTRUCTION AND COMMUNITY DEVELOPMENT [S07295 Detail]

Download: New_York-2015-S07295-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________
                                          7295
                    IN SENATE
                                     April 13, 2016
                                       ___________
        Introduced by Sen. MARCHIONE -- 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 authorizing municipalities to compel mortgagees either to
          complete a mortgage foreclosure proceeding pursuant to article  13  of
          the  real  property  actions and proceedings law or to issue a certif-
          icate of discharge of the mortgage for any  property  which  has  been
          certified  abandoned pursuant to real property actions and proceedings
          law section 1971
          The People of the State of New York, represented in Senate and  Assem-
        bly, do enact as follows:
     1    Section  1.  Short  title. This act shall be known and may be cited as
     2  the "zombie property remediation act of 2016".
     3    § 2. The real property actions  and  proceedings  law  is  amended  by
     4  adding a new section 1392 to read as follows:
     5    §  1392.  Foreclosure  actions  involving abandoned properties.   If a
     6  property has been  certified  abandoned  pursuant  to  section  nineteen
     7  hundred seventy-one of this chapter, the city, village, or town in which
     8  the  property  is located may commence a proceeding in a court of compe-
     9  tent jurisdiction in the county in which  the  property  is  located  to
    10  compel any or all mortgagees to either: (a) complete a mortgage foreclo-
    11  sure  proceeding  pursuant  to article thirteen of this chapter within a
    12  reasonable time period as determined  by  the  court;  or  (b)  issue  a
    13  certificate of discharge of the mortgage.
    14    § 3. This act shall take effect immediately.
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD14744-02-6