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NY S06487
Bill
Status
Introduced
4/24/2023
Primary Sponsor
Timothy Kennedy
Click for details
AI Summary
- Creates a new procedure for tax sale certificate holders to initiate foreclosure actions on property certified as vacant and abandoned under Real Property Actions and Proceedings Law section 1309
- Reduces the minimum holding period for vacant and abandoned properties from two years to one year before foreclosure action may be brought
- Maintains the maximum holding period of twenty-five years for initiating foreclosure on vacant and abandoned properties
- Allows foreclosure actions to be filed in either the supreme court or county court of Erie county for recovery of tax sale certificate amounts plus interest, penalties, and expenses
- Takes effect immediately upon enactment
Legislative Description
Decreases the time a vacant property may sit in foreclosure in Erie county.
Last Action
RECOMMIT, ENACTING CLAUSE STRICKEN
5/6/2024
Committee Referrals
Local Government4/24/2023
Full Bill Text
No bill text available