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NY S05228

Bill

Official Source

Status

Introduced

5/8/2015

Primary Sponsor

Kenneth LaValle

Click for details

Origin

Senate

2015-2016 General Assembly

AI Summary

  • Amends Real Property Actions and Proceedings Law Section 1351 to require disclosure of all individual purchasers when property is bought collectively at a mortgage foreclosure sale
  • Mandates that names of each individual purchaser must be provided in writing to the sheriff or referee conducting the foreclosure sale
  • Applies when mortgaged premises are purchased by more than one individual person
  • Takes effect 30 days after becoming law

Legislative Description

Provides that the judgment of sale in a mortgage foreclosure action shall direct that in the event such premises is purchased collectively by more than one individual, the names of each individual purchaser shall be disclosed in writing to the sheriff of the county or referee conducting the sale.

Last Action

COMMITTED TO RULES

6/17/2016

Committee Referrals

Rules6/17/2016
Housing, Construction, and Community Development5/8/2015

Full Bill Text

No bill text available