Neighbor News
Assemblywoman Galef Applauds Governor Cuomo for Signing Bill to Protect Property & Mineral Rights
New legislation prevents tax districts from stripping natural resources from properties obtained through foreclosure
Assemblywoman Sandy Galef is proud to announce that her bill, A6930, to make certain that natural resources and mineral rights be sold with its property when involved in a tax foreclosure sale is now Chapter 500 of the laws of New York State, after being signed on November 20th by Governor Cuomo. The bill was sponsored by Senator James L. Seward, S5288.
This bill, goes into effect the first of January, and prevents tax districts from stripping gasoline, oil or mineral rights from properties obtained through foreclosure proceedings prior to the time such property is either sold to a buyer through auction or sealed bid, or in some cases sold privately back to its original owner.
It should not be a purpose of local governments, including, but not limited to counties, to act as stewards of the underground energy or mineral rights of properties acquired through foreclosure. The sale of these rights, if they are to occur, is more properly determined by arms-length transactions between private property owners.
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“This new law is important for all of New York State residents” said Assemblywoman Sandy Galef. “It is crucial that properties, above and underground be protected and sold together. I thank the governor for making sure this common sense legislation goes into effect to help the people of New York.”
“A person could be living in their home and not interested in allowing hydrofracking or other extractions on their property but could have no legal right to stop it. The underground could be owned by someone else vs. the homeowner” said Assemblywoman Sandy Galef.
Find out what's happening in Ossining-Croton-On-Hudsonfor free with the latest updates from Patch.
When a family decides to buy their home they assume that the property underneath their new home is included with the purchase. This legislation ensures that the entire property is one singular entity. This bill effectively stops the unlawful sale of underground natural resources of a property; moreover, it gives the sole ownership of the plot of land to the private owner, who is likely a homeowner.
