Zombie Property Act Introduced in New York

Updated 6/20/18: NY AB 1563 (Zombie Property Remediation Act of 2017) has advanced in the New York Assembly and has been referred to the Assembly Codes Committee.

Link to full text

Legislation Update
January 12, 2017

A01563 Summary:

BILL NO A01563 
SAME AS No Same As
SPONSOR Magnarelli
COSPNSR McDonald, Fahy, Buchwald, Miller MG, Jaffee, Brindisi, Gunther, Otis, Steck, Ortiz, Skoufis, Joyner, Blake, Jean-Pierre, Galef, Walker, Hyndman
MLTSPNSR Cook, Englebright, Magee, Skartados, Thiele
Add §1392, RPAP L
Permits a municipality to compel a mortgagee to either complete a mortgage foreclosure proceeding or to issue a certificate of discharge of the mortgage for any property which has been certified abandoned pursuant to section 1971 of the real property actions and proceedings law.

Source: New York State Assembly (AB 1563 full text)


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