NY S09470

Creates a special proceeding allowing municipalities to obtain title to abandoned commercial and industrial properties through court judgment rather than foreclosure.

Establishes abandonment criteria including: owner's failure to collect rent or maintain property for 3+ months, vacant properties not properly sealed or guarded, unpaid taxes for 1+ year, or unremedi­ated code violations outstanding for 1+ year.

Requires municipalities to certify abandonment, post notice on the property, serve notice on the owner and mortgage/lienholders with 15-30 day response periods to dispute abandonment or take corrective action.

Upon court finding of abandonment, vests title in fee simple absolute to the municipality and bars all prior owners, lienholders, and other interested parties from any rights in the property.

Expires June 30, 2025 unless extended, making this a temporary authorization for municipalities to address blighted abandoned commercial and industrial properties.