Bill Text: NY S08445 | 2019-2020 | General Assembly | Introduced

NOTE: There are more recent revisions of this legislation. Read Latest Draft

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Bill Title: Imposes a temporary ban on the commencement of mortgage foreclosure actions and the sale of foreclosed properties for 365 days after the last region or county enters into phase 3 of the governor's reopening plan relating to the COVID-19 pandemic.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2020-06-26 - PRINT NUMBER 8445B [S08445 Detail]

Download: New_York-2019-S08445-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________

                                          8445

                    IN SENATE

                                      June 3, 2020
                                       ___________

        Introduced  by  Sen. SANDERS -- 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 imposing a temporary ban on the commencement  of  mortgage
          foreclosure actions and the sale of foreclosed properties; and provid-
          ing for the repeal of such provisions upon expiration thereof

          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 1393 to read as follows:
     3    § 1393. Temporary ban on foreclosure actions and sales  of  foreclosed
     4  properties.  1.    If a mortgage foreclosure action for a residential or
     5  commercial real property is filed in a court during the covered  period,
     6  the  court  shall stay the proceedings until a date following the end of
     7  the covered period, to be determined by the court.
     8    2. Any sale, foreclosure, or seizure, for a breach of an obligation by
     9  a mortgagor, under this chapter, of a  residential  or  commercial  real
    10  property shall be prohibited during the covered period.
    11    3.  For  the  purposes  of this section, the term "the covered period"
    12  shall mean the period of time beginning on the effective  date  of  this
    13  section and ending on the one hundred twentieth day following the effec-
    14  tive date of this section.
    15    §  2.  This  act shall take effect immediately and shall expire and be
    16  deemed repealed 1 year after such effective date.




         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD16379-01-0