STATE OF NEW YORK
________________________________________________________________________
1264
2025-2026 Regular Sessions
IN SENATE
January 8, 2025
___________
Introduced by Sen. PERSAUD -- read twice and ordered printed, and when
printed to be committed to the Committee on Judiciary
AN ACT to amend the real property law, in relation to requiring a mort-
gagor to provide notice of imminent foreclosure to their tenant or
tenants
The People of the State of New York, represented in Senate and Assem-bly, do enact as follows:
1 Section 1. The real property law is amended by adding a new section
2 235-k to read as follows:
3 § 235-k. Imminent foreclosure. 1. As used in this section, "imminent
4 foreclosure" shall mean a mortgagor has received notice of foreclosure
5 delivered along with a summons and complaint, as required in subdivision
6 two of section thirteen hundred three of the real property actions and
7 proceedings law.
8 2. A mortgagor shall, prior to the tenant or prospective tenant either
9 renewing or signing a lease agreement, disclose to such tenant or
10 prospective tenant of imminent foreclosure.
11 3. A mortgagor shall send a copy of the original summons and complaint
12 by certified mail to a tenant or prospective tenant at least two weeks
13 prior to either renewing or signing a lease agreement.
14 4. A mortgagor who fails to disclose to their tenant or prospective
15 tenant prior to either renewing or signing a lease agreement shall pay a
16 credit of five hundred dollars to the tenant or prospective tenant
17 against the agreed upon rental price of the lease agreement per failure,
18 in addition to any other existing equitable or statutory remedy.
19 § 2. This act shall take effect immediately.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD03877-01-5
