Bill Text: NY A03441 | 2015-2016 | General Assembly | Introduced

New York Assembly Bill 3441 (Prior Session Legislation)

Introduced

Bill Title: Extends the requirements for property condition disclosure statements to sales of condominiums and cooperative apartments.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2016-01-06 - referred to judiciary [A03441 Detail]

Download: New_York-2015-A03441-Introduced.html

                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                         3441
                              2015-2016 Regular Sessions
                                 I N  A S S E M B L Y
                                   January 22, 2015
                                      ___________
       Introduced by M. of A. WRIGHT -- read once and referred to the Committee
         on Judiciary
       AN ACT to amend the real property law, in relation to extending property
         condition  disclosure statements requirements to condominium units and
         cooperative apartments
         THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
       BLY, DO ENACT AS FOLLOWS:
    1    Section  1.  Subdivision 5 of section 461 of the real property law, as
    2  added by chapter 456 of the laws of 2001, is amended to read as follows:
    3    5. "Residential real property" means real property improved by  a  one
    4  to  four  family  dwelling  used  or occupied, or intended to be used or
    5  occupied, wholly or partly, as the home or  residence  of  one  or  more
    6  persons,  but shall not refer to (a) unimproved real property upon which
    7  such dwellings are to be constructed, or (b) [condominium units or coop-
    8  erative apartments, or (c)] property in a homeowners'  association  that
    9  is not owned in fee simple by the seller.
   10    S 2. This act shall take effect immediately.
        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD04768-01-5