New York A 9447: Relates to the discharge of a mortgage

Bill Text

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 Speaker Carl E. Heastie

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A09447 Summary:

BILL NOA09447 

&nbsp

SAME ASSAME AS S08768

&nbsp

SPONSORCruz

&nbsp

COSPNSR

&nbsp

MLTSPNSR

&nbsp

Amd §275, RP L; amd §1921, RPAP L; amd §3, Chap of 2025 (as proposed in S.6363 & A.2739)

&nbsp

Requires a mortgagee to accept and apply payments; relates to the effectiveness thereof.

Go to top A09447 Actions:

BILL NOA09447 

&nbsp

01/06/2026referred to banks

01/07/2026referred to banks

01/20/2026reported referred to rules

01/21/2026reported 

01/21/2026rules report cal.40

01/21/2026ordered to third reading rules cal.40

01/21/2026substituted by s8768

&nbspS08768 AMEND= BAILEY

&nbsp01/08/2026REFERRED TO RULES

&nbsp01/12/2026ORDERED TO THIRD READING CAL.18

&nbsp01/20/2026PASSED SENATE

&nbsp01/20/2026DELIVERED TO ASSEMBLY

&nbsp01/20/2026referred to banks

&nbsp01/21/2026substituted for a9447

&nbsp01/21/2026ordered to third reading rules cal.40

&nbsp01/21/2026passed assembly

&nbsp01/21/2026returned to senate

&nbsp02/13/2026DELIVERED TO GOVERNOR

&nbsp02/13/2026SIGNED CHAP.49

Go to topA09447 Committee&nbspVotes:

Committee:BANKS Chair:Vanel 
DATE:01/20/2026AYE/NAY:26/0 Action: Favorable refer to committee Rules VanelAyeBolognaAye

WeprinAyeMikulinAye

TaylorAyeSmullenAye

SternExcusedFitzpatrickExcused

SayeghAyeLemondesAye

BurkeExcusedDiPietroExcused

AndersonAyeChangAye

MitaynesAyeChludzinskiAye

SeptimoExcusedMolitorAye

TapiaAye

De Los SantosAye

CunninghamAye

LeeAye

RagaAye

BurdickAye

DaisAye

JacksonAye

TorresAye

HooksAye

WiederAye

WrightAye

YegerAye

Committee:RULES Chair:Pretlow 
DATE:01/21/2026AYE/NAY:27/0 Action: Favorable HeastieExcusedBarclayAye

PretlowAyeHawleyAye

CookExcusedBlankenbushAye

GlickExcusedRaAye

DinowitzAyeBrabenecAye

ColtonAyePalmesanoAye

MagnarelliAyeReillyAye

PaulinExcusedSmithAye

Peoples-StokesAyeJensenAye

BenedettoAye

LavineAye

LupardoAye

BraunsteinAye

DavilaAye

HyndmanAye

RozicAye

BronsonAye

HevesiAye

HunterAye

TaylorAye

CruzAye

VanelAye

Go to topA09447 Floor&nbspVotes:

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

Go to topA09447 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 9447

 IN ASSEMBLY

 January 6, 2026
 ___________

 Introduced by M. of A. CRUZ -- read once and referred to the Committee
 on Banks

 AN ACT to amend the real property law and the real property actions and
 proceedings law, in relation to the discharge of a mortgage; and to
 amend a chapter of the laws of 2025 amending the real property law and
 the real property actions and proceedings law relating to discharge of
 a mortgage, as proposed in legislative bills numbers S. 6363 and A.
 2739, in relation to the effectiveness thereof

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

 1 Section 1. Paragraph (b) of subdivision 2 of section 275 of the real
 2 property law, as added by a chapter of the laws of 2025 amending the
 3 real property law and the real property actions and proceedings law
 4 relating to discharge of a mortgage, as proposed in legislative bills
 5 numbers S. 6363 and A. 2739, is amended to read as follows:
 6 (b) [Notwithstanding any provision of this section to the contrary, if
 7 payment is received at the location and in the manner specified by the
 8 mortgagee, the mortgagee must accept and may not return or destroy any
 9 payment received in reliance on a payoff statement and must promptly
 10 apply such payment to the unpaid principal, interest or any other
 11 amounts due under the mortgage.] No mortgagee shall return, destroy, or
 12 otherwise refuse to accept a payment made pursuant to the terms of a
 13 payoff letter, including but not limited to terms regarding the location
 14 and the manner of payment specified by the mortgagee, even if such
 15 payment does not cover the full amount of principal, interest, and any
 16 other amounts due and owing under the mortgage, provided, however, if
 17 there is a defect with the payment that prevents the mortgagee from
 18 identifying with reasonable diligence the mortgage for which such
 19 payment is made, the mortgagee may refuse to accept such payment and
 20 return the payment to the remitter. The mortgagee shall apply such
 21 payment to the unpaid principal, interest or any ot