Authorizes a religious corporation to sell real property where consideration paid therefor and fair market value thereof is less than $200,000, and mortgage real property when such mortgage secures debt of less than $200,000, without leave of supreme court.
Relates to the purchase of community land mortgages; defines a community land mortgage as a mortgage that is secured by a first lien on a leasehold estate in real property that is improved by a residential structure wherein title to the real property is retained by a not-for-profit housing company or housing development fund company; authorizes the state of New York mortgage agency to purchase community land mortgages from banks within the state; ensures not-for-profit housing remains as affordable housing.
Prohibits mortgagee from refusing to accept partial mortgage payments from a mortgagor which does not bring the mortgagor current on his or her mortgage debt.
Enacts the New York religious land use and religious exercise act prohibiting unreasonable restriction on regulations affecting religious land use or affecting religious exercise of institutionalized persons.
Relates to increasing the maximum civil penalty from $500 to $1000 per day per property for each day the mortgagee or agent of the mortgagee has been in violation.
Relates to increasing the maximum civil penalty from $500 to $1000 per day per property for each day the mortgagee or agent of the mortgagee has been in violation.
Sets up rules and regulations for the operation of lease-hold retirement communities to provide adequate housing for senior citizens wishing to retire and locate in a lease-hold retirement community; grants owners of homes in lease-hold retirement communities the right to sell their homes by methods common to sales of residential property; requires that owners of lease-hold retirement communities offer owners of homes the option to sign a long-term ninety-nine year lease.
Sets up rules and regulations for the operation of lease-hold retirement communities to provide adequate housing for senior citizens wishing to retire and locate in a lease-hold retirement community; grants owners of homes in lease-hold retirement communities the right to sell their homes by methods common to sales of residential property; requires that owners of lease-hold retirement communities offer owners of homes the option to sign a long-term ninety-nine year lease.
Authorizes certain state regulated institutions to offer disaster forbearance agreements to qualified mortgagors whose income has been adversely affected by the outbreak of COVID-19 and is unable to make his or her mortgage payment.