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NY A10681
Bill
Status
8/22/2022
Primary Sponsor
Pamela Hunter
Click for details
AI Summary
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Former owners of residential, farm, or commercial property are entitled to any surplus proceeds resulting from tax foreclosure sales, defined as amounts remaining after outstanding taxes, interest, liens, and fees are paid
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Tax districts must post notice of public auctions on the front door or equivalent location of the property at least 14 days prior to the auction
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Enforcing officers must report surpluses to the court, which directs deposit of surplus funds with the county treasurer or commissioner of finance in trust for at least three years
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Municipalities must notify property owners when their property generates a surplus at a tax foreclosure auction, explaining how to claim the surplus and what steps to take
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The provisions apply to all counties, cities, towns, and villages in New York State
Legislative Description
Provides for the return of surplus proceeds from tax lien foreclosures to a former owner; requires 14-day posted notice prior to the public auction of a property.
Last Action
referred to real property taxation
8/22/2022