New York S00925 amends the real property actions and proceedings law to enhance penalties for non-compliance with maintenance and reporting of vacant.

New York S00925 amends the real property actions and proceedings law to increase penalties for failure to comply with maintenance and reporting of vacant and abandoned properties. It mandates that lenders, assignees, and mortgage loan servicers submit information about vacant and abandoned properties to the Department of Financial Services. The bill also allows for sharing of this information between municipalities to further the purposes of the law. It provides for enforcement of these provisions and increases the civil penalty for violations.

New York S00925 amends the real property actions and proceedings law to enhance penalties for non-compliance with maintenance and reporting of vacant.

New York S00925 amends the real property actions and proceedings law to increase penalties for failure to comply with maintenance and reporting of vacant and abandoned properties. It mandates that lenders, assignees, and mortgage loan servicers submit information about vacant and abandoned properties to the Department of Financial Services. The bill also allows for sharing of this information between municipalities to further the purposes of the law. It provides for enforcement of these provisions and increases the civil penalty for violations.