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NY S02122
Bill
Status
Engrossed
5/21/2025
Primary Sponsor
Patricia Fahy
Click for details
AI Summary
- Authorizes civil penalties of up to $650 per day for mortgage foreclosure plaintiffs who violate property maintenance requirements after a foreclosure judgment is issued
- Grants municipalities the right to enforce maintenance obligations in court after providing at least 7 days' notice to the foreclosing party
- Allows municipalities to immediately enter and maintain properties requiring emergency repairs that threaten public health, safety, or welfare without prior notice
- Empowers the Superintendent of Financial Services to pursue suspected maintenance violations at their discretion after providing 7 days' notice
- Requires municipalities to notify the Department of Financial Services at least 10 days before bringing an enforcement action, though failure to do so is not a defense against the action
Legislative Description
Authorizes municipalities and the department of financial services to seek civil penalties for violations of the duty to maintain a foreclosed property in an amount of up to $650 per day for each day such violation persists after the judgement of foreclosure has been issued.
Last Action
REFERRED TO HOUSING, CONSTRUCTION AND COMMUNITY DEVELOPMENT
1/7/2026
Committee Referrals
Housing, Construction, and Community Development1/7/2026
Judiciary5/22/2025
Housing, Construction, and Community Development1/15/2025
Full Bill Text
No bill text available