Bill > A06699

This bill modifies New York's civil practice law and rules to clarify certain legal procedures related to foreclosure actions and real property instruments. Specifically, the bill prevents parties from unilaterally waiving or extending the statute of limitations for legal claims, particularly in foreclosure cases involving standardized mortgage instruments from entities like Fannie Mae, Freddie Mac, and HUD. The bill establishes that the time to commence a foreclosure action will be calculated from when full payment can be demanded, and creates a rebuttable presumption that conditions for foreclosure have been met. Additionally, the bill specifies that discontinuing a foreclosure action does not automatically waive the right to pursue the claim, extend the statute of limitations, or nullify previously elected legal remedies. The legislation includes provisions allowing previously time-barred or nearly time-barred foreclosure actions to be filed within one year of the bill becoming law, providing a temporary window for legal action that might have otherwise been prevented by existing time limitations.

Justice

https://www.nysenate.gov/legislation/bills/2025/A6699