S 2546 NY

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Bill No.: Summary Actions Committee&nbspVotes Floor&nbspVotes Memo Text LFIN Chamber&nbspVideo/Transcript S02546 Summary: BILL NO S02546 &nbsp SAME AS SAME AS A03444

&nbsp SPONSOR MYRIE &nbsp COSPNSR &nbsp MLTSPNSR &nbsp Amd §1972, RPAP L &nbsp Authorizes the mortgagee or lienor of an abandoned multiple dwelling to apply for the appointment of a receiver to bring the building into compliance.

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STATE OF NEW YORK ________________________________________________________________________

2546

2025-2026 Regular Sessions

IN SENATE

January 21, 2025 ___________

Introduced by Sen. MYRIE -- read twice and ordered printed, and when printed to be committed to the Committee on Judiciary

AN ACT to amend the real property actions and proceedings law, in relation to title to an abandoned multiple dwelling in a city, town or village

The People of the State of New York, represented in Senate and Assem- bly, do enact as follows:

1 Section 1. Subdivision 3 of section 1972 of the real property actions 2 and proceedings law, as added by chapter 864 of the laws of 1973, is 3 amended to read as follows: 4 3. Within five days of the service of notice on the owner, a copy of 5 the certification shall be served on each mortgagee, lienor and lessee 6 of record, personally or by registered mail to the address set forth in 7 the recorded instrument or, if no address appears therein, to the person 8 at whose request the instrument was recorded. Such copy shall, in the 9 case of a mortgagee or lienor, be accompanied by a notice that 10 proceedings pursuant to this article may be instituted unless the mort- 11 gagee or lienor, within fifteen days of such mailing, either (a) 12 commences proceedings to foreclose the mortgage or lien and moves for 13 the appointment of a receiver which brings the building into compliance 14 with the applicable provisions of law within ninety days from the date 15 of appointment or such longer period as may be established by agreement 16 with the department or [ enters into an agreement with the department to 17 bring the building ] (b) takes possession of the premises as provided in 18 the mortgage and brings the building into compliance with the applicable 19 provisions of law within ninety days from the date of taking possession 20 or such longer period as may be established by agreement with the 21 department . The department may, notwithstanding anything to the contra- 22 ry in this subdivision, institute proceedings pursuant to this article 23 if: (i) the application for appointment of a receiver is denied, (ii) 24 the receiver fails to bring the building into compliance with the appli-

EXPLANATION--Matter in italics (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD06784-01-5

S. 2546 2

1 cable provisions of law within ninety days from the date of appointment 2 or such longer period as may be established by agreement with the 3 department; or (iii) the mortgagee or lienor in possession fails to 4 bring the building into compliance with the applicable provisions of law 5 within ninety days from the date of taking possession or such longer 6 period as may be established by agreement with the department. 7 § 2. This act shall take effect on the one hundred twentieth day 8 after it shall have become a law and shall apply to proceedings 9 commenced on or after such date.

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