Bill Text: NY A06477 | 2019-2020 | General Assembly | Introduced

New York Assembly Bill 6477 (Prior Session Legislation)

Introduced

Bill Title: Requires a plaintiff in a mortgage foreclosure action to maintain the subject property in good faith.

Spectrum: Partisan Bill (Democrat 18-0)

Status: (Introduced - Dead) 2020-07-21 - ordered to third reading rules cal.232 [A06477 Detail]

Download: New_York-2019-A06477-Introduced.html



                STATE OF NEW YORK
        ________________________________________________________________________
                                          6477
                               2019-2020 Regular Sessions
                   IN ASSEMBLY
                                      March 7, 2019
                                       ___________
        Introduced by M. of A. WRIGHT -- read once and referred to the Committee
          on Judiciary
        AN  ACT  to  amend  the  real  property  actions and proceedings law, in
          relation to requiring a plaintiff in a mortgage foreclosure action  to
          maintain the subject property in good faith
          The  People of the State of New York, represented in Senate and Assem-
        bly, do enact as follows:
     1    Section 1. This act shall be known and  may  be  cited  as  "The  Good
     2  Neighbor Act".
     3    §  2.  Subdivision  1 of section 1307 of the real property actions and
     4  proceedings law, as added by chapter 507 of the laws of 2009, is amended
     5  to read as follows:
     6    1. A plaintiff [in] who commences a mortgage foreclosure  action  [who
     7  obtains],  including  a lender, an assignee or a mortgage loan servicer,
     8  seeking a judgment of foreclosure and sale pursuant to section  thirteen
     9  hundred  fifty-one of this article, involving residential real property,
    10  as defined in section thirteen hundred five of  this  article,  that  is
    11  vacant,  or becomes vacant after commencement of the action or the issu-
    12  ance of such judgment, or is abandoned by the mortgagor but occupied  by
    13  a  tenant,  as defined under section thirteen hundred five of this arti-
    14  cle, shall in good faith maintain  such  property  until  such  time  as
    15  ownership  has been transferred through the closing of title in foreclo-
    16  sure, or other disposition, and the deed for such property has been duly
    17  recorded; provided, however, that  if  a  municipality  or  governmental
    18  entity  holds  a  mortgage  subordinate  to one or more mortgages on the
    19  residential real property, the municipality or governmental entity shall
    20  not be subject to the requirements of this section.   As  used  in  this
    21  section,  the  term "good faith" shall be defined as honesty in fact and
    22  the observance of reasonable standards of fair dealing.
    23    § 3. This act shall take effect immediately.
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD09682-01-9