New York A06699 amends civil practice law to clarify rights in foreclosure actions and the effect of discontinuing such actions.

New York A06699 amends the civil practice law and rules to clarify rights in foreclosure actions. It specifies that once a cause of action has accrued, no party may unilaterally extend the accrual period. It also states that discontinuing an action does not waive, postpone, or reset the accrual of a cause of action, extend the limitations period, or revoke an election of remedies. The bill further details the computation of the time to commence an action based on standardized mortgage instruments.

New York A06699 amends civil practice law to clarify rights in foreclosure actions and the effect of discontinuing such actions.

New York A06699 amends the civil practice law and rules to clarify rights in foreclosure actions. It specifies that once a cause of action has accrued, no party may unilaterally extend the accrual period. It also states that discontinuing an action does not waive, postpone, or reset the accrual of a cause of action, extend the limitations period, or revoke an election of remedies. The bill further details the computation of the time to commence an action based on standardized mortgage instruments.