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state_legiscan_drain · NY

Establishes a private right of action for deed theft; provides that victims of deed theft may maintain an action against a deed thief or a bank that provides a loan that assists in the commission of deed theft; authorizes victims of deed theft to recover actual damages, treble damages and attorneys' fees; defines terms.

May 1, 2025

Summary

If enacted, this bill would create a private right of action allowing victims of deed theft to sue both the thief and any bank that knowingly provided a loan assisting in the theft. Victims could recover actual damages, treble damages, and attorneys' fees. The bill aims to deter deed theft by increasing financial liability for banks involved in such fraudulent transactions.

AI-generated summary · Jun 8, 2026. Verify with your compliance counsel before acting.

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Source: https://www.nysenate.gov/legislation/bills/2025/S7721

Common questions

What does "Establishes a private right of action for deed theft; provides that victims of deed theft may maintain an action against a deed thief or a bank that provides a loan that assists in the commission of deed theft; authorizes victims of deed theft to recover actual damages, treble damages and attorneys' fees; defines terms." cover?
If enacted, this bill would create a private right of action allowing victims of deed theft to sue both the thief and any bank that knowingly provided a…
When was it published?
It was published on May 1, 2025.

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