Nantasha M. Williams
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Thank you so much, chair Brennan, for convening today's hearing and for your leadership.
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In guiding the important work of the finance committee, I also want to extend my deepest gratitude to the Brooklyn Legal Services Corporation Aid for bringing this critical issue to light and for their tireless advocacy on behalf of our city's most vulnerable homeowners.
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Their work and dedication have been instrumental in inspiring the legislation we are discussing today.
0:13:40
The bill before you that you just discussed, intro 1086, seeks to address the pressing issue affecting property owners in our city.
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The problem of title clouding, A cloud on a title creates significant uncertainty about a property's ownership, often leading to devastating consequences for homeowners.
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This issue is not merely administrative.
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It has real and lasting impacts on people's lives, leaving them vulnerable to fraud, extortion, and in some cases, the loss of their homes.
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Intro 1086 proposes proposes an amendment to section 7628 of the administrative code to enhance transparency and protect property owners.
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Specifically, this legislation would require the Department of Finance to notify interested parties by email, text message, and postal mail when a deed related or mortgage related document has been recorded for a property.
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These notifications must be sent no later than 30 days after the document's recording.
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This simple but crucial step would create an additional safeguard against title clouding by ensuring property owners are properly informed of any changes affecting their title.
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It provides homeowners with an opportunity to address potential issues quickly, reducing the risk of being caught unaware by fraudulent activity.
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Title clouding often stems from predatory schemes that disproportionately target
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whom have built their lives and income and elderly homeowners, many of whom have built their lives and families around their homes.
0:15:07
Brooklyn Legal Legal Services Corporation a has seen firsthand the devastating effects of these scams as they have helped constituents who who fall victim to title fraud or orchestrated by bad actors seeking to extort or steal their homes.
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This bill is a proactive measure to empower homeowners, providing them with tools to protect one of their most valuable assets By leveraging multiple channels of communication, email, text, and postal mail, we ensure that homeowners receive timely and accessible notifications regardless of their preferred method of correspondence.
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As elected officials, it is our duty to protect our constituents from harm and provide them with the resources they need to safeguard their futures.
0:15:50
Insure 1086 is one step toward achieving that goal, and I urge all of you to join me in supporting it.
0:15:58
So again, in closing, I wanna, again, thank chair Brandon for convening this hearing and for BKA for their advocacy and partnership.
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And thank you because you have no problems with my bill, so that's exciting.
0:16:09
I look forward to moving forward and, bringing this meaningful protection to homeowners across the city.
