NY S08100

Amends Real Property Actions and Proceedings Law Section 1972 to require mortgagees and lienors of abandoned multiple dwellings to either commence foreclosure proceedings with a receiver appointment or take possession within 15 days of notice to avoid further department proceedings.

Requires any appointed receiver to bring the building into compliance with applicable law within 90 days of appointment, or a longer period if agreed upon with the department.

Allows mortgagees or lienors taking possession to bring the building into compliance within 90 days of possession, or a longer period by department agreement.

Permits the department to institute proceedings if a receiver appointment is denied, the receiver fails to achieve compliance within the specified timeframe, or a mortgagee/lienor in possession fails to achieve compliance.

Takes effect 120 days after becoming law and applies to proceedings commenced on or after that date.