Update March 18,2022
Legislation has now been signed into law. To view the final text, please click here.
Following is the “Summary of Provisions” as provided in the Sponsor’s Memo.
This legislation amends the underlying chapter by establishing that vacancy in shall apply the same definition provided in section 1309 of the Real Property Actions and Proceedings Law.
This legislation adds three means by which a property may be deemed abandoned, including; when all owners indicate abandonment in writing; by court order or municipality order either from an initiation by the court or in response to a tenant complaint that the owner has abandoned the property; when a tenant on the property sends a complaint to the foreclosing plaintiff indicating that the owner of the property has stopped maintaining the property. Further, the legislation establishes a penalty of $500 against plain- tiffs who enter residential property without a good faith belief that the property is vacant or abandoned. The penalty is paid to the aggrieved owner and/or tenants of residential properties.
Introduced 01/11/2022, if enacted SB 7792 seeks to “define vacant and abandoned residential property in relation to mortgage foreclosure actions; (establishes plaintiffs in such matters shall maintain the subject property)”
To view the current version as introduced, please click here,