There is a newer version of the New York Consolidated Laws
2006 New York Code - Notice Of Pendency Of Non-judicial Proceeding For Forclosure By Power Of Sale.
* § 1403. Notice of pendency of non-judicial proceeding for foreclosure by power of sale. 1. The mortgagee shall, prior to the first service of the notice of intention to foreclose, purchase an index number in the office of the county clerk of the county in which the sale is to take place and file in the clerk's office of each county where the mortgaged property is situated a notice of the pendency of the non-judicial proceeding for foreclosure by power of sale which shall, in addition to the applicable requirements of article sixty-five of the civil practice law and rules, specify the date of the mortgage, the parties thereto, the time and place of recording, the name of the record owner of the mortgaged property, the names of any subordinate lienors or holders of subordinate interests entitled to notice of the sale, the object of the proceeding for foreclosure of the mortgage by power of sale, and a description of the mortgaged property, including the number of each block and lot on the land map of the county which is affected by the notice. If the notice is filed in more than one county, the notice shall designate the county in which the sale is to take place. The provisions of article sixty-five of the civil practice law and rules requiring the service and filing of a summons shall not be applicable to a non-judicial proceeding for foreclosure by power of sale pursuant to this article. 2. The filing of the notice of pendency shall be deemed to be the commencement of the non-judicial proceeding for foreclosure by power of sale pursuant to this article. 3. The notice of pendency shall be effective for a period of three years from the date of filing. Before expiration of a period or extended period, the court, upon motion of the mortgagee and upon such notice as the court may require, may, for good cause shown, grant an extension for an additional three year period. An extension order shall be filed and indexed before expiration of the notice of pendency. In the event the sale has not taken place prior to the expiration of a pendency period, and a lapse in extending the notice of pendency has occurred, a new notice of pendency may be filed upon a court order from the supreme court in the county in which the sale is to take place, on a showing that no person or entity has been prejudiced by the failure to extend the notice of pendency. In the event that a person or entity shall have acquired, after the expiration of a notice of pendency and before another shall be filed, an interest in or lien upon the mortgaged property which is subordinate to the mortgage, such person or entity shall be entitled to notice of the sale. 4. The filing of the notice of pendency shall be deemed to be conclusive record notice to any tenant or occupant who takes possession of all or a part of the mortgaged property, or any person who or entity which acquires an interest in or lien upon the mortgaged property, or any part thereof, after the filing of the notice of pendency and all such persons or entities shall be bound thereby and by the non-judicial proceeding pursuant to this article. 5. The provisions of section sixty-five hundred sixteen of the civil practice law and rules shall not be applicable to any notice of pendency filed pursuant to this section. * NB Repealed July 1, 2009
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