Referee's Report of Sale
(Foreclosure) (NY)

Summary

This Referee's Report of Sale may be filed by a referee that has conducted a foreclosure sale in New York. This template contains practical guidance, drafting notes and alternate clauses. This template may be used in connection with a foreclosure of commercial or residential real property. In New York, a judgment of foreclosure and sale typically appoints a referee to sell property, (although the court is also authorized to select the sheriff to fulfill that function). Within thirty days of conducting the foreclosure sale, the referee must file, under oath, a report under oath of sale proceeds disposition, accompanied by the vouchers of the persons to whom payments were made. N.Y. Real Prop. Acts. Law § 1355. After the referee's report is filed, a party making a motion to confirm the report must wait three months and no longer than four months to file the motion if the party seeks to collect the surplus money from the sale. If there is no surplus money from the sale, a party need only wait eight days after the report has been filed before making a motion for confirmation. N.Y. Real Prop. Acts. Law § 1355. This template is a general template that should be modified to reflect the details of the foreclosure sale. Alternate language is provided for use when the plaintiff is the purchaser. For further guidance, see Commercial Mortgage Foreclosure (NY). For more information about foreclosure of real property in New York, see Foreclosure Resource Kit (NY).