A08677 Summary:

BILL NOA08677
 
SAME ASSAME AS S05228
 
SPONSORThiele
 
COSPNSR
 
MLTSPNSR
 
Amd §1351, RPAP L
 
Provides that the judgment of sale in a mortgage foreclosure action shall direct that in the event such premises is purchased collectively by more than one individual, the names of each individual purchaser shall be disclosed in writing to the sheriff of the county or referee conducting the sale.
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A08677 Actions:

BILL NOA08677
 
01/12/2016referred to judiciary
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A08677 Committee Votes:

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A08677 Floor Votes:

There are no votes for this bill in this legislative session.
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A08677 Text:



 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                          8677
 
                   IN ASSEMBLY
 
                                    January 12, 2016
                                       ___________
 
        Introduced by M. of A. THIELE -- read once and referred to the Committee
          on Judiciary
 
        AN  ACT  to  amend  the  real  property  actions and proceedings law, in
          relation to the purchase of the premises  at  a  mortgage  foreclosure
          sale by a group
 
          The  People of the State of New York, represented in Senate and Assem-
        bly, do enact as follows:

     1    Section 1. Subdivision 1 of section 1351 of the real property  actions
     2  and  proceedings  law,  as  added by chapter 312 of the laws of 1962, is
     3  amended to read as follows:
     4    1. The judgment shall direct that the mortgaged premises, or  so  much
     5  thereof  as  may  be  sufficient  to  discharge  the  mortgage debt, the
     6  expenses of the sale and the costs of the action, and which may be  sold
     7  separately without material injury to the parties interested, be sold by
     8  or  under the direction of the sheriff of the county, or a referee.  The
     9  judgment shall direct that in  the  event  such  premises  is  purchased
    10  collectively  by  more than one individual, the names of each individual
    11  purchaser shall be disclosed in writing to such sheriff or referee.
    12    § 2. This act shall take effect on the thirtieth day  after  it  shall
    13  have become a law.
 
 
 
 
 
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD10979-01-5
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