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NY A02682
Bill
Status
1/26/2023
Primary Sponsor
Jacob Blumencranz
Click for details
AI Summary
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Amends Real Property Tax Law Section 953 to add subdivision 8-b establishing financial liability for mortgage investing institutions and their contracted vendors
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Holds mortgage institutions or vendors financially responsible for interest and penalties charged to property owners when an erroneous mortgage registration is filed with the collecting officer for an escrow amount
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Applies liability when erroneous registration results in non-payment or late payment of real property taxes by property owners to taxing municipalities, counties, and/or delinquent tax enforcement agencies
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Takes effect immediately upon enactment
Legislative Description
Requires mortgage investing institutions or their contracted vendors to be financially responsible for any interest or penalties charged as a result of an erroneous mortgage registration filed by such institution or vendor.
Last Action
referred to banks
1/3/2024