STATE OF NEW YORK
________________________________________________________________________
4763
2017-2018 Regular Sessions
IN ASSEMBLY
February 3, 2017
___________
Introduced by M. of A. KEARNS -- read once and referred to the Committee
on Judiciary
AN ACT to amend the real property actions and proceedings law, in
relation to notifying homeowners whose property netted a surplus at a
tax foreclosure auction
The People of the State of New York, represented in Senate and Assem-bly, do enact as follows:
1 Section 1. Section 1303 of the real property actions and proceedings
2 law is amended by adding a new subdivision 8 to read as follows:
3 8. (a) A municipality shall notify a property owner when the owner's
4 property netted a surplus at a tax foreclosure auction that was held on
5 or after January first, two thousand nine. The notification shall state
6 the possible existence of a surplus, how to obtain the surplus and
7 contact information for free legal services if available and the steps
8 the homeowner must take to obtain the surplus. In this section, surplus
9 shall mean the amount that is left after the property has been auctioned
10 and all outstanding taxes, issues payments for county tax and utility
11 liens and administrative and other fees have been paid.
12 (b) Municipalities shall make a reasonable effort to notify property
13 owners by the use of mail, telephone or electronic mail within a reason-
14 able time of the tax foreclosure auction.
15 (c) Municipalities may charge property owners a reasonable fee to
16 cover the notification expenses. Municipalities shall not charge a fee
17 of more than five percent of the total surplus in cases where a homeown-
18 er nets a surplus in excess of one thousand dollars.
19 § 2. This act shall take effect immediately.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD09343-01-7
