Bill Text: NY A09276 | 2013-2014 | General Assembly | Introduced
Bill Title: Prohibits mortgagee from refusing to accept partial mortgage payments.
Spectrum: Partisan Bill (Democrat 18-0)
Status: (Introduced - Dead) 2014-04-07 - referred to judiciary [A09276 Detail]
Download: New_York-2013-A09276-Introduced.html
S T A T E O F N E W Y O R K
________________________________________________________________________
9276
I N A S S E M B L Y
April 7, 2014
___________
Introduced by M. of A. TITUS, JAFFEE, MILLER, WEPRIN, HOOPER, ROSENTHAL,
ROBINSON, COOK, JACOBS, STECK -- Multi-Sponsored by -- M. of A.
CAMARA, MOSLEY, MOYA, PERRY -- read once and referred to the Committee
on Judiciary
AN ACT to amend the real property law, in relation to prohibiting mort-
gagee from refusing to accept partial mortgage payments
THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:
1 Section 1. The real property law is amended by adding a new section
2 254-e to read as follows:
3 S 254-E. REFUSAL BY MORTGAGEE TO ACCEPT PARTIAL MORTGAGE PAYMENTS. 1.
4 NO MORTGAGEE SHALL REFUSE TO ACCEPT A PARTIAL PAYMENT OF AN ENTIRE
5 AMOUNT DUE FROM A MORTGAGOR WHICH DOES NOT BRING THE MORTGAGOR CURRENT
6 ON HIS OR HER MORTGAGE DEBT.
7 2. THE PROVISIONS OF THIS SECTION SHALL NOT BAR ANY OTHER CONTRACTUAL
8 OR STATUTORY RIGHTS OR REMEDIES AVAILABLE TO A MORTGAGOR.
9 S 2. This act shall take effect on the thirtieth day after it shall
10 have become a law.
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD01005-01-3
