New York S 7732: Prohibits title insurance corporations from paying certain claims for fraudulent conveyances

Bill Text

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S07732 Summary:

BILL NOS07732 

&nbsp

SAME ASSAME AS A10147

&nbsp

SPONSORBRISPORT

&nbsp

COSPNSRSALAZAR

&nbsp

MLTSPNSR

&nbsp

Amd §6408, Ins L

&nbsp

Prohibits title insurance corporations from making payments to lenders on title insurance claims when the transaction conveying such title is false or fraudulent.

Go to top S07732 Actions:

BILL NOS07732 

&nbsp

05/02/2025REFERRED TO INSURANCE

01/07/2026REFERRED TO INSURANCE

Go to topS07732 Committee&nbspVotes:

Go to topS07732 Floor&nbspVotes:

There are no Assembly votes for this bill in this legislative session.

Go to topS07732 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 7732

 2025-2026 Regular Sessions

 IN SENATE

 May 2, 2025
 ___________

 Introduced by Sen. BRISPORT -- read twice and ordered printed, and when
 printed to be committed to the Committee on Insurance

 AN ACT to amend the insurance law, in relation to prohibiting title
 insurance corporations from paying certain claims for fraudulent
 conveyances

 The People of the State of New York, represented in Senate and Assem-
 bly, do enact as follows:

 1 Section 1. This act shall be known and may be cited as the "deed
 2 theft: bank and lender accountability act".
 3 § 2. Section 6408 of the insurance law is amended by adding a new
 4 subsection (e) to read as follows:
 5 (e) Notwithstanding any other provisions of this article, no person,
 6 firm, association or corporation organized or qualified under this arti-
 7 cle shall make payments to a lender or mortgage lender on claims based
 8 on a title insurance policy issued by such person, firm, association, or
 9 corporation when the transaction conveying such title is false or frau-
 10 dulent.
 11 § 3. This act shall take effect on the ninetieth day after it shall
 12 have become a law.

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD10523-01-5

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