Bill > S03823

This bill amends the Real Property Actions and Proceedings Law to modify rules about appointing receivers in mortgage foreclosure cases, specifically focusing on cities with a population of one million or more (which in New York State would be New York City). The bill introduces a new provision where the local agency responsible for regulating residential real property can submit a pre-approved list of qualified receivers and managing agents to the chief administrative judge of the supreme court. In such cities, courts will be required to only appoint receivers from this approved list, and those receivers can only appoint managing agents who are also on the same list. This change aims to establish a more structured and controlled process for selecting receivers in mortgage foreclosure actions, potentially ensuring that only vetted and qualified professionals are involved in managing properties during foreclosure proceedings. The bill would take effect immediately upon becoming law.

Housing and Urban Affairs

https://www.nysenate.gov/legislation/bills/2025/S3823