Bill Text: NY S05079 | 2019-2020 | General Assembly | Amended

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Bill Title: Enacts the "zombie property remediation act of 2019".

Spectrum: Partisan Bill (Democrat 6-0)

Status: (Passed) 2019-12-18 - SIGNED CHAP.682 [S05079 Detail]

Download: New_York-2019-S05079-Amended.html

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                STATE OF NEW YORK
        ________________________________________________________________________

                                         5079--A

                               2019-2020 Regular Sessions

                    IN SENATE

                                      April 8, 2019
                                       ___________

        Introduced  by Sens. SKOUFIS, KENNEDY -- read twice and ordered printed,
          and when  printed  to  be  committed  to  the  Committee  on  Housing,
          Construction  and  Community Development -- committee discharged, bill
          amended, ordered reprinted as amended and recommitted to said  commit-
          tee

        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 section  1971  of  the  real  property
          actions and proceedings law

          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 2019".
     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,  or  deemed  vacant  and  abandoned
     8  pursuant  to  section  thirteen  hundred nine of this article, the city,
     9  village, or town in  which  the  property  is  located  may  commence  a
    10  proceeding  in  a court of competent jurisdiction in the county in which
    11  the property is located to compel any or all mortgagees to: (a)  if  the
    12  note is in default, the mortgagee shall commence a foreclosure procedure
    13  within  three  months and shall meet all deadlines to ensure the case is
    14  ready to be moved to judgment within a reasonable time period but not to
    15  exceed one year; (b) if a foreclosure has already been  commenced,  file
    16  the necessary motions and within three months paperwork to move the case
    17  to  judgment foreclosure within three months; or (c) issue a certificate
    18  of discharge of the mortgage within three months and file a satisfaction
    19  of the mortgage with the appropriate local office.
    20    § 3. This act shall take effect immediately.

         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD01898-06-9