Help for Homeowners in Foreclosure Notice
(Notice to Tenant) (NY)

Summary

This template sets forth the statutorily required notice from a foreclosing mortgage lender in New York to the tenant of a dwelling unit. This template includes practical guidance and drafting notes. This template may be delivered to a tenant leasing a detached home, a unit in an apartment building, or a residential condominium unit, but should not be used for cooperatives or commercial properties or as notice to the owner of the residential unit. This template is a statutory notification form from a secured lender to the tenant of a residential dwelling that may be subject to a foreclosure action. This form must be sent within 10 days of service of the summons and complaint upon the owner. NY CLS RPAPL § 1303(4).The notice must be printed in bold, 14-point type. It must be printed on colored paper. The title of the notice must be in bold, 20-point type. The notice must be printed on its own page and delivered in accordance with statutory provisions. NY CLS RPAPL § 1303(4). A tenant occupying a residential unit that may be subject to foreclosure must receive statutory notification. N.Y. Real Prop. Acts. Law §§ 1303(1)(b), (4), (5). The tenant may also be eligible for additional tenant protections. 2019 N.Y. SB 6458. Some of these protections may be based upon the type of dwelling, the state in which the lender is organized, and/or the underlying type of security interest in the dwelling. Best practice is to review the most recent federal, state and local statutory protections in this area of law. An overview of all available tenant protections is beyond the scope of this template. For statutory text see N.Y. Real Prop. Acts. Law § 1303. For general landlord tenant information, see Residential Lease Agreements (NY). For the statutory form of notice for homeowners, see Help for Homeowners in Foreclosure Notice (NY). For a statutory form of notice for use with a cooperative unit, see Help for Homeowners at Risk of Foreclosure Notice (Cooperative) (NY).