2006 New York Code - Mortgages.



 
    § 312. Mortgages.   1. The provisions of this section shall apply only
  to obligation and secured by mortgage, trust deed, or other security  in
  the  nature  of  a  mortgage  upon  real or personal property owned by a
  person in military service at the commencement  of  the  period  of  his
  military  service and still so owned by him which obligations originated
  prior to such person's period of military service.
    2. In any proceeding commenced in  any  court  during  the  period  of
  military service to enforce such obligation arising out of nonpayment of
  any  sum  thereunder due or out of any other breach of the terms thereof
  occurring prior to or during the period of such service the  court  may,
  after  hearing,  in its discretion, on its own motion, and shall, except
  as hereinafter provided in this act, on application to it by such person
  in military service or some person on his behalf, unless in the  opinion
  of  the  court  the ability of the defendant to comply with the terms of
  the obligation is not materially affected  by  reason  of  his  military
  service
    (a) stay the proceedings as provided in this act; or
    (b)  make  such  other  disposition of the case as may be equitable to
  conserve the interests of all parties.
    3. No sale, foreclosure, or seizure of property for nonpayment of  any
  sum  due under any such obligation, or for any other breach of the terms
  thereof, whether under a power of sale, under a  judgment  entered  upon
  warrant of attorney to confess judgment contained therein, or otherwise,
  shall  be valid if made during the period of military service, or within
  six months thereafter, unless upon an order of sale  previously  granted
  by the court and a return thereto made and approved by the court.
    4.  Any  person  who  shall  knowingly  cause  to  be  made  any sale,
  foreclosure or seizure of property defined  as  invalid  by  subdivision
  three hereof, or attempts so to do, shall be guilty of a misdemeanor and
  shall be punished by imprisonment not to exceed one year, or by fine not
  to exceed one thousand dollars, or both.

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