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NY A03013
Bill
Status
1/21/2011
Primary Sponsor
Mark Schroeder
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AI Summary
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Court in Buffalo foreclosure proceedings shall determine all priorities, rights, claims and demands of parties, and verify tax district compliance with Article 11 of the real property tax law.
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When a non-tax district party files a meritorious answer to the foreclosure petition, the court shall dismiss the petition unless an agreement is executed; non-meritorious answers result in final judgment awarding the tax district conveyance rights.
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When no answer is filed, the court awards the tax district the right to convey title to the foreclosed property, or if requested by the enforcing officer, directs a public auction sale instead.
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Public auction sales require notice published once weekly for at least three successive weeks in a county newspaper, with all proceeds paid to the enforcing officer for the tax district's benefit and full title conveyed to the purchaser.
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Provisions take effect immediately and apply to surplus funds from tax lien foreclosure sales in Buffalo paid into court on or after the effective date.
Legislative Description
Relates to the disposition of surplus funds resulting from a tax lien foreclosure sales in the city of Buffalo; provides that a judgment may be entered, upon request of the tax district, without such district taking title to the property.
Last Action
referred to mental health
1/21/2011