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New York policy

S9796: Relates to prohibiting pre-payment penalties for mortgages secured by real property owned in a cooperative form of ownership

NY Senate · Sponsor Luis R. Sepúlveda

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Jurisdiction
New York State
Applies to
New York State (proposed)
Effective
June 5, 2026

What it requires

Prohibits pre-payment penalties for mortgages secured by real property owned in a cooperative form of ownership where over fifty percent of the units are shareholder occupied.

ny-statesenatelegislationbill

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