Bill > S07413

This bill requires homeowners' associations (HOAs) and condominium boards to provide a 90-day notice to property owners before initiating a foreclosure action to enforce a lien for unpaid common charges, assessments, fines, or fees. The notice must be sent to the property address and any other address of record, and must be written in at least 14-point type, clearly stating the intent to file a foreclosure action, the property address, and the specific amount owed. This new requirement applies to both condominium associations (as an amendment to the real property law) and incorporated homeowners' associations (through a new article in the real property actions and proceedings law). The purpose of the bill is to give property owners advance warning and an opportunity to address outstanding financial obligations before losing their property through foreclosure. The bill takes effect immediately and applies to all actions commenced on or after its effective date, providing homeowners with additional protection and time to resolve potential financial disputes with their HOA or condominium board.

Justice

https://www.nysenate.gov/legislation/bills/2025/S7413