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Who cares
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Sponsors
2 Co-sponsors
History
- Substituted by A10226
- Advanced to third reading
- 2nd report cal.
- 1st report cal.606
- Referred to housing, construction and community development
Companion bill
The same bill in the other chamber. A bill becomes law when one version passes both houses and the governor signs it, so either number can carry it.
Requires the required notice of foreclosure to tenants to include a notice of the rights of rent-regulated tenants
Signed by Governor · Sponsor Linda Rosenthal
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
Title of bill
An act to amend the real property actions and proceedings law, in relation to required notice to tenants upon a mortgage foreclosure
Purpose of bill
This bill would clarify the contents of the notice provided to tenants of buildings which have entered foreclosure.
Summary of provisions of bill
This bill would amend subdivisions 4 and 5 of Section 1303 of the Real Property Actions and Proceedings Law to make clear that the rights of rent-controlled and rent-stabilized tenants are not affected when their building enters foreclosure. The bill will also require foreclosing entities to provide a name, address and phone number on the posted notice.
Justification
Chapter 507 of the Laws of 2009 required notice to tenants in buildings entering foreclosure. Recent experience with this new notice requirement reveals that additional language is necessary to communicate to rent-controlled and rent-stabilized tenants that their rights are unaffected by the course of the foreclosure proceeding. This bill will also require that the foreclosing entity provide a name, address and phone number on the notice so affected parties who receive notice may contact the foreclosing entity.
Legislative history
New bill.
Fiscal implications for state and local governments
None.
Effective date
30 days after becoming law.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.