New York S02122 authorizes municipalities and the Department of Financial Services to seek civil penalties for failing to maintain foreclosed.

New York S02122 amends the real property actions and proceedings law to authorize municipalities and the Department of Financial Services to seek civil penalties for violations of the duty to maintain a foreclosed property. The penalty is up to $650 per day for each day the violation persists after the judgment of foreclosure has been issued. The municipality or the Department of Financial Services can bring actions before a hearing officer or court. The penalty applies until the property is transferred to a third party. The municipality retains any civil penalty imposed.

New York S02122 authorizes municipalities and the Department of Financial Services to seek civil penalties for failing to maintain foreclosed.

New York S02122 amends the real property actions and proceedings law to authorize municipalities and the Department of Financial Services to seek civil penalties for violations of the duty to maintain a foreclosed property. The penalty is up to $650 per day for each day the violation persists after the judgment of foreclosure has been issued. The municipality or the Department of Financial Services can bring actions before a hearing officer or court. The penalty applies until the property is transferred to a third party. The municipality retains any civil penalty imposed.