STATE OF NEW YORK
________________________________________________________________________
1563--A
2017-2018 Regular Sessions
IN ASSEMBLY
January 12, 2017
___________
Introduced by M. of A. MAGNARELLI, McDONALD, FAHY, BUCHWALD, M. G. MILL-
ER, JAFFEE, BRINDISI, GUNTHER, OTIS, STECK, ORTIZ, SKOUFIS, JOYNER,
BLAKE, JEAN-PIERRE, GALEF, WALKER, HYNDMAN -- Multi-Sponsored by -- M.
of A. COOK, ENGLEBRIGHT, MAGEE, THIELE -- read once and referred to
the Committee on Judiciary -- recommitted to the Committee on Judici-
ary in accordance with Assembly Rule 3, sec. 2 -- committee
discharged, bill amended, ordered reprinted as amended and recommitted
to said committee
AN ACT to amend the real property actions and proceedings law, in
relation to authorizing municipalities to compel mortgagees either to
complete a mortgage foreclosure proceeding pursuant to article 13 of
the real property actions and proceedings law or to issue a certif-
icate of discharge of the mortgage for any property which has been
certified abandoned pursuant to real property actions and proceedings
law section 1971
The People of the State of New York, represented in Senate and Assem-bly, do enact as follows:
1 Section 1. Short title. This act shall be known and may be cited as
2 the "zombie property remediation act of 2018".
3 § 2. The real property actions and proceedings law is amended by
4 adding a new section 1392 to read as follows:
5 § 1392. Foreclosure actions involving abandoned properties. If a
6 property has been certified abandoned pursuant to section nineteen
7 hundred seventy-one of this chapter, or deemed vacant and abandoned
8 pursuant to section thirteen hundred nine of this article, the city,
9 village, or town in which the property is located may commence a
10 proceeding in a court of competent jurisdiction in the county in which
11 the property is located to compel any or all mortgagees to: (a) if the
12 note is in default, the mortgagee shall commence a foreclosure procedure
13 within three months and move the case to judgment within a reasonable
14 time period but not to exceed one year; (b) if a foreclosure has already
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD07365-02-8
A. 1563--A 2
1 been commenced, file the necessary motions and paperwork to move the
2 case to judgment foreclosure within three months; or (c) issue a certif-
3 icate of discharge of the mortgage within three months and file a satis-
4 faction of the mortgage with the appropriate local office.
5 § 3. This act shall take effect immediately.
