New York 2025-2026 Regular Session

New York Senate Bill S07413

Introduced

4/15/25

Refer

4/15/25

Caption

Requires notice to be provided ninety days prior to commencement of a foreclosure action by a homeowners' association or condominium board to enforce a lien for unpaid common charges, assessments, fines or fees.

Impact

The passage of S07413 would significantly affect how homeowners' associations and condominium boards enforce liens for unpaid charges. By implementing a formal notice period, it enhances the rights of property owners by ensuring they are informed to resolve any financial obligations before facing foreclosure. This legislative change is expected to lead to greater transparency and fairness in the enforcement of liens, which many believe will protect the interests of homeowners during challenging financial times.

Summary

S07413 aims to amend the real property law and the real property actions and proceedings law in New York, specifically focusing on the foreclosure of liens by homeowners' associations and condominium boards for unpaid assessments. The bill mandates that at least ninety days of notice must be given to property owners before commencing any foreclosure action for unpaid common charges, assessments, fees, or fines. This requirement is intended to provide homeowners with a clear timeframe to address their debts before legal action can be taken against them.

Contention

While the bill aims to protect homeowners from abrupt foreclosure actions, some stakeholders might argue that it could hinder homeowners' associations' ability to swiftly recover unpaid assessments. This could lead to financial constraints for associations that rely on timely payments to maintain properties and manage communal services. The discussion around this bill may involve tensions between homeowners' rights and the financial sustainability of homeowners' associations, signaling a balancing act between protecting property owners and ensuring associations can effectively manage their financial responsibilities.

Latest S07413 Activity

Companion Bills

NY A03470

Same As Requires notice to be provided ninety days prior to commencement of a foreclosure action by a homeowners' association or condominium board to enforce a lien for unpaid common charges, assessments, fines or fees.

Previously Filed As

NY A09780

NY A00786

Provides for the return of surplus proceeds from tax lien foreclosures to a former owner; requires 14-day posted notice prior to the public auction of a property.

NY S05383

Provides for the return of surplus proceeds from tax lien foreclosures to a former owner; requires 14-day posted notice prior to the public auction of a property.

NY S08512

Relates to protections for homeowners in the event of tax lien foreclosure; establishes notice and hearing requirements and a homeowners bill of rights.

NY A00177

Relates to required notices in a residential mortgage foreclosure action.

NY A04273

Imposes a temporary ban on the commencement of mortgage foreclosure actions and the sale of foreclosed properties for 365 days after the last region or county enters into phase 3 of the governor's reopening plan relating to the COVID-19 pandemic.

NY S06524

Requires a mortgagor to provide notice of imminent foreclosure to his or her tenant or prospective tenant prior to he or she renewing or signing a lease agreement.

NY A04339

Relates to notice for enforcement of a lien against a self-service storage facility; requires a first notice to be delivered or sent within 30 days of the event that triggered the enforcement of the lien and the second notice to be sent within 45 days of such event and provides that public or private sale of the goods removed from the storage space may occur 60 days after such notification.

NY S01709

Provides for free legal representation in certain mortgage foreclosure actions where the homeowner is financially unable to obtain counsel; requires notice of such availability.

NY A08591