Bill Text: NY A07105 | 2009-2010 | General Assembly | Introduced

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Bill Title: Amends the real property actions and proceedings law, in relation to designating a party to accept service in the event a property becomes vacant during the foreclosure process.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2010-01-06 - referred to judiciary [A07105 Detail]

Download: New_York-2009-A07105-Introduced.html

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                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                         7105
                              2009-2010 Regular Sessions
                                 I N  A S S E M B L Y
                                    March 20, 2009
                                      ___________
       Introduced  by  M. of A. HOYT -- read once and referred to the Committee
         on Judiciary
       AN ACT to amend the  real  property  actions  and  proceedings  law,  in
         relation to designating a party to accept service in the event a prop-
         erty becomes vacant during the foreclosure process
         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 1305 to read as follows:
    3    S 1305. DESIGNATION OF AGENT  FOR  SERVICE.  PRIOR  TO  INITIATING  AN
    4  ACTION TO FORECLOSE A MORTGAGE, THE FORECLOSING PARTY SHALL DESIGNATE AN
    5  AGENT  TO  ACCEPT  SERVICE FOR ALL ACTIONS IN THE EVENT THAT THE SUBJECT
    6  PROPERTY BECOMES VACANT DURING THE FORECLOSURE  PROCEEDING.  ANY  PERSON
    7  MAY  BE DESIGNATED BY THE FORECLOSING PARTY AS AN AGENT FOR SERVICE IN A
    8  WRITING, EXECUTED AND ACKNOWLEDGED IN THE SAME MANNER AS  A  DEED,  WITH
    9  THE CONSENT OF THE AGENT ENDORSED THEREON. THE WRITING SHALL BE FILED IN
   10  THE OFFICE OF THE CLERK OF THE COUNTY IN WHICH THE MORTGAGE AND DEED ARE
   11  FILED.  THE  WRITING  SHALL ALSO INCLUDE THE ADDRESS AT WHICH THE DESIG-
   12  NATED AGENT WILL ACCEPT SERVICE; SUCH ADDRESS MUST BE LOCATED WITHIN THE
   13  COUNTY IN WHICH THE WRITING IS FILED.  THE DESIGNATION SHALL  REMAIN  IN
   14  EFFECT  FOR  THREE  YEARS FROM SUCH FILING UNLESS IT HAS BEEN REVOKED BY
   15  THE FILING OF A REVOCATION, OR BY THE  DEATH,  JUDICIAL  DECLARATION  OF
   16  INCOMPETENCY OR LEGAL TERMINATION OF THE AGENT OR PRINCIPAL.
   17    S 2. This act shall take effect immediately.
        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD07934-01-9