NY A07737

Bill

Relates to the rights of parties involved in foreclosure actions; provides additional details regarding the commencement and termination of certain actions related to real property.

Introduced
05/20/2021

In Committee
03/23/2022

Crossed Over
05/03/2022

Passed
12/20/2022

Dead

Signed/Enacted/Adopted
12/30/2022

Introduced Session

2021-2022 General Assembly

Bill Summary

AN ACT to amend the real property actions and proceedings law, the general obligations law and the civil practice law and rules, in relation to the rights of parties involved in actions commenced upon real property related instruments

AI Summary

This bill amends the real property actions and proceedings law, the general obligations law, and the civil practice law and rules to provide additional details and protections regarding the commencement and termination of certain actions related to real property instruments, such as mortgages. Key provisions include: requiring court approval for certain follow-up actions to recover a mortgage debt, prohibiting unilateral waiver or extension of statute of limitations periods, allowing a new action to be filed within 6 months of a prior action's termination, and establishing estoppel rules regarding the valid acceleration of an instrument. The bill aims to prevent foreclosure abuse and clarify the rights of parties involved in such actions.

Committee Categories

Justice

Sponsors (32)

Helene Weinstein (D)*, Thomas Abinanti (D), Khaleel Anderson (D), Rodneyse Bichotte Hermelyn (D), Harry Bronson (D), Chris Burdick (D), Robert Carroll (D), William Colton (D), Vivian Cook (D), Maritza Davila (D), Jeffrey Dinowitz (D), Simcha Eichenstein (D), Steven Englebright (D), Nathalia Ferna´ndez (D), Sandy Galef (D), Emily Gallagher (D), Deborah Glick (D), Pamela Hunter (D), Alicia Hyndman (D), Chantel Jackson (D), Kimberly Jean-Pierre (D), Steve Otis (D), Gary Pretlow (D), David Rosenthal (D), Nader Sayegh (D), Rebecca Seawright (D), Jo Anne Simon (D), Phara Souffrant Forrest (D), Yudelka Tapia (D), David Weprin (D), Ken Zebrowski (D), Stefani Zinerman (D),

Last Action

signed chap.821 (on 12/30/2022)

Official Document

https://www.nysenate.gov/legislation/bills/2021/A7737

(2 Companion Bills)

Version:

Document Type	Source Location
State Bill Page	https://www.nysenate.gov/legislation/bills/2021/A7737
BillText	https://assembly.state.ny.us/leg/?default_fld=&bn=A07737&term=2021&Summary=Y&Actions=Y&Text=Y&Committee%26nbspVotes=Y&Floor%26nbspVotes=Y#A07737B
BillText	https://assembly.state.ny.us/leg/?default_fld=&bn=A07737&term=2021&Summary=Y&Actions=Y&Text=Y&Committee%26nbspVotes=Y&Floor%26nbspVotes=Y#A07737A
BillText	https://assembly.state.ny.us/leg/?default_fld=&bn=A07737&term=2021&Summary=Y&Actions=Y&Text=Y&Committee%26nbspVotes=Y&Floor%26nbspVotes=Y#A07737

Bill	Bill Name	Last Action	Type
S05473	Relates to the rights of parties involved in foreclosure actions; provides additional details regarding the commencement and termination of certain actions related to real property.	SUBSTITUTED BY A7737B	Same As
S07293	Relates to the rights of parties involved in foreclosure actions; provides additional details regarding the commencement and termination of certain actions related to real property.	REFERRED TO HOUSING, CONSTRUCTION AND COMMUNITY DEVELOPMENT	Same As

Bill > A07737

summary

Introduced Session

Bill Summary

AI Summary

Committee Categories

Sponsors (32)

Last Action

Official Document

bill text

bill summary

bill summary

bill summary