New York A11044 mandates mortgagors to inform tenants or prospective tenants of imminent foreclosure before lease renewal or signing.
New York A11044 amends the real property law to require mortgagors to disclose imminent foreclosure to tenants or prospective tenants before lease renewal or signing. This notice must include a copy of the original summons and complaint sent by certified mail at least two weeks prior. Failure to comply results in a $500 payment to the tenant or prospective tenant, in addition to any other remedies.
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