New York Assembly Bill A04377 Latest Draft

   
  STATE OF NEW YORK ________________________________________________________________________ 4377 2025-2026 Regular Sessions  IN ASSEMBLY February 4, 2025 ___________ Introduced by M. of A. VANEL -- read once and referred to the Committee on Judiciary AN ACT to amend the real property actions and proceedings law, in relation to foreclosure of certain properties The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. Section 757 of the real property actions and proceedings 2 law, as added by section 23 of part M of chapter 36 of the laws of 2019, 3 is amended to read as follows: 4 § 757. Eviction as the result of foreclosure. 1. Any landlord that is 5 in mortgage foreclosure due to loss of rent payments cannot enter into a 6 state of foreclosure until a special proceeding to recover real property 7 is maintained and any rent issues are resolved. Such court shall track 8 all loss of rent payment cases and subsequent foreclosure cases. 9 2. In the event that a lessee is removed from real property pursuant 10 to this article, and the leased real property was the subject of a fore- 11 closure proceeding pursuant to this chapter or the subject of a tax 12 foreclosure proceeding, the court records relating to any such lessee 13 shall be sealed and be deemed confidential. No disclosure or use of such 14 information relating to any such lessee shall be authorized, and the use 15 of such information shall be prohibited. 16 § 2. Section 1302 of the real property actions and proceedings law is 17 amended by adding a new subdivision 3 to read as follows: 18 3. Any landlord that is in mortgage foreclosure due to loss of rent 19 payments cannot enter into a state of foreclosure until a special 20 proceeding to recover real property is maintained and any rent issues 21 are resolved. Such court shall track all loss of rent payment cases and 22 subsequent foreclosure cases. 23 § 3. This act shall take effect on the one hundred eightieth day after 24 it shall have become a law. EXPLANATION--Matter in italics (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD00702-01-5