Establishes provisions for real property tax lien transfers to assist homeowners facing foreclosure based on unpaid taxes; repeals existing.

New York A07494 amends the real property tax law to establish provisions for real property tax lien transfers. It allows property owners to voluntarily enter into agreements with private entities to pay their property taxes, helping to prevent foreclosure. The bill repeals existing provisions relating to acceptance of taxes from certain loan corporations. It defines terms such as "property tax payor" and "tax lien transfer authorization," and outlines the process for transferring tax liens, including the creation of a tax lien transfer certificate.

Establishes provisions for real property tax lien transfers to assist homeowners facing foreclosure based on unpaid taxes; repeals existing.

New York A07494 amends the real property tax law to establish provisions for real property tax lien transfers. It allows property owners to voluntarily enter into agreements with private entities to pay their property taxes, helping to prevent foreclosure. The bill repeals existing provisions relating to acceptance of taxes from certain loan corporations. It defines terms such as "property tax payor" and "tax lien transfer authorization," and outlines the process for transferring tax liens, including the creation of a tax lien transfer certificate.