Bill Text: NY S04672 | 2009-2010 | General Assembly | Amended
Bill Title: Establishes a revised residential property condition disclosure statement.
Spectrum: Bipartisan Bill
Status: (Introduced - Dead) 2010-03-30 - PRINT NUMBER 4672A [S04672 Detail]
Download: New_York-2009-S04672-Amended.html
S T A T E O F N E W Y O R K
________________________________________________________________________
4672--A
2009-2010 Regular Sessions
I N S E N A T E
April 27, 2009
___________
Introduced by Sen. LIBOUS -- read twice and ordered printed, and when
printed to be committed to the Committee on Judiciary -- recommitted
to the Committee on Judiciary in accordance with Senate Rule 6, sec. 8
-- committee discharged, bill amended, ordered reprinted as amended
and recommitted to said committee
AN ACT to amend the real property law, in relation to property condition
disclosure in the sale of residential real property; and to repeal
subdivision 2 of section 462 of such law relating to the property
condition disclosure statement
THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:
1 Section 1. Subdivision 2 of section 462 of the real property law is
2 REPEALED and a new subdivision 2 is added to read as follows:
3 2. THE FOLLOWING SHALL BE THE DISCLOSURE FORM:
4 PROPERTY CONDITION DISCLOSURE STATEMENT
5 NAME OF SELLER OR SELLERS:
6 PROPERTY ADDRESS:
7 PURPOSE OF THE PROPERTY CONDITION DISCLOSURE STATEMENT:
8 THE PROPERTY CONDITION DISCLOSURE ACT REQUIRES THE SELLER OF RESIDEN-
9 TIAL REAL PROPERTY TO CAUSE THIS DISCLOSURE STATEMENT OR A COPY THEREOF
10 TO BE DELIVERED TO A BUYER OR BUYER'S AGENT PRIOR TO THE SIGNING BY THE
11 BUYER OF A BINDING CONTRACT OF SALE.
12 YOUR OBLIGATIONS AS A SELLER OF RESIDENTIAL REAL PROPERTY
13 SELLERS MUST ANSWER THE QUESTIONS ON THE FORM BASED UPON PROPERTY
14 CONDITIONS THAT THE SELLER KNOWS TO EXIST OR HAVE EXISTED, INCLUDING
15 THOSE CONDITIONS MADE KNOWN TO THE SELLER BY OTHERS. THE SELLER IS NOT
16 REQUIRED TO INVESTIGATE THE PROPERTY IN ORDER TO ANSWER THE QUESTIONS.
17 "RESIDENTIAL REAL PROPERTY" MEANS REAL PROPERTY IMPROVED BY A ONE TO
18 FOUR FAMILY DWELLING USED OR OCCUPIED, OR INTENDED TO BE USED OR OCCU-
19 PIED, WHOLLY OR PARTLY, AS THE HOME OR RESIDENCE OF ONE OR MORE PERSONS,
20 BUT SHALL NOT REFER TO (A) UNIMPROVED REAL PROPERTY UPON WHICH SUCH
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD04799-04-0
S. 4672--A 2
1 DWELLINGS ARE TO BE CONSTRUCTED OR (B) CONDOMINIUM UNITS OR COOPERATIVE
2 APARTMENTS OR (C) PROPERTY IN A HOMEOWNERS' ASSOCIATION THAT IS NOT
3 OWNED IN FEE SIMPLE BY THE SELLER. THERE ARE CERTAIN STATUTORY
4 EXEMPTIONS THAT ARE SET FORTH IN SECTION 463 OF THE NEW YORK STATE REAL
5 PROPERTY LAW.
6 THE COMPLETED FORM OR A COPY THEREOF MUST BE DELIVERED TO A BUYER OR
7 BUYER'S AGENT PRIOR TO THE BUYER SIGNING A BINDING CONTRACT OF SALE. THE
8 SELLER AUTHORIZES HIS OR HER AGENT, IF ANY, TO PROVIDE A COPY OF THIS
9 STATEMENT TO A PROSPECTIVE BUYER OF THE RESIDENTIAL REAL PROPERTY. SELL-
10 ERS MUST ALSO PROVIDE BUYERS WITH A REVISED STATEMENT IF THE SELLER
11 ACQUIRES KNOWLEDGE OR INFORMATION THAT RENDERS INACCURATE THE ANSWER TO
12 ANY QUESTION ON THE DISCLOSURE STATEMENT PROVIDED TO THE BUYER.
13 THIS IS A LEGAL DOCUMENT. A KNOWINGLY FALSE OR INCOMPLETE STATEMENT BY
14 THE SELLER ON THIS FORM MAY SUBJECT THE SELLER TO CLAIMS BY THE BUYER
15 PRIOR TO OR AFTER THE TRANSFER OF TITLE. FOR ASSISTANCE SEEK THE ADVICE
16 OF AN ATTORNEY.
17 IN THE EVENT A SELLER FAILS TO DELIVER A COMPLETE DISCLOSURE STATEMENT
18 PRIOR TO THE BUYER SIGNING A BINDING CONTRACT OF SALE, THE BUYER SHALL
19 RECEIVE UPON THE TRANSFER OF TITLE A CREDIT OF FIVE HUNDRED DOLLARS
20 ($500.00) AGAINST THE AGREED UPON PURCHASE PRICE OF THE RESIDENTIAL REAL
21 PROPERTY.
22 NOTE TO BUYER:
23 BUYERS ARE REMINDED THAT THIS DISCLOSURE STATEMENT IS NOT A WARRANTY
24 OF ANY KIND BY THE SELLER OR BY ANY AGENT REPRESENTING THE SELLER IN
25 THIS TRANSACTION. IT IS NOT A SUBSTITUTE FOR ANY INSPECTIONS OR TESTS
26 AND THE BUYER IS ENCOURAGED TO OBTAIN HIS OR HER OWN INDEPENDENT PROFES-
27 SIONAL INSPECTIONS AND ENVIRONMENTAL TESTS AND ALSO IS ENCOURAGED TO
28 CHECK PUBLIC RECORDS PERTAINING TO THE PROPERTY. THE FOLLOWING REPRESEN-
29 TATIONS ARE MADE BY THE SELLER AND ARE NOT THE REPRESENTATIONS OF THE
30 SELLER'S AGENT.
31 INSTRUCTIONS TO THE SELLER:
32 (A) ANSWER ALL QUESTIONS BASED UPON YOUR ACTUAL KNOWLEDGE OF THE PROP-
33 ERTY.
34 (B) ATTACH ADDITIONAL PAGES WITH YOUR SIGNATURE IF ADDITIONAL SPACE IS
35 REQUIRED.
36 (C) COMPLETE THIS FORM YOURSELF, OR SEEK THE ADVICE OF AN ATTORNEY.
37 (D) IF SOME ITEMS DO NOT APPLY TO YOUR PROPERTY, CHECK "NA" (NON-AP-
38 PLICABLE).
39 (E) BY INDICATING "YES" OR "NO" YOU ARE STATING THAT YOU HAVE ACTUAL
40 KNOWLEDGE AS TO THE SUBJECT MATTER OF THE QUESTION.
41 (F) BY INDICATING "UNKNOWN" YOU ARE STATING THAT YOU HAVE NO ACTUAL
42 KNOWLEDGE AS TO THE SUBJECT MATTER OF THE QUESTION.
43 GENERAL INFORMATION
44 1. HOW LONG HAVE YOU OWNED THE PROPERTY?
45 2. HOW LONG HAVE YOU OCCUPIED THE PROPERTY?
46 3. WHAT IS THE AGE OF THE STRUCTURE OR STRUCTURES?
47 4. IS THERE A CERTIFICATE OF OCCUPANCY/COMPLIANCE RELATED TO THE PROP-
48 ERTY?
49 YES NO (IF YES, LIST OR ATTACH ALL CERTIFICATES, IF NO, EXPLAIN BELOW)
50 5. HAVE YOU MADE ANY IMPROVEMENTS TO THE PROPERTY? YES NO. IF YES, DO
51 YOU KNOW IF ANY OF THEM REQUIRED A PERMIT? YES NO (IF YES, DESCRIBE
52 IMPROVEMENT AND LIST OR ATTACH ALL PERMITS)
53 6. WHAT SCHOOL DISTRICT IS THE PROPERTY LOCATED IN?
54 7. DOES ANYONE ELSE CLAIM A RIGHT TO USE ANY PART OF YOUR PROPERTY
55 SUCH AS A LEASE, EASEMENT OR A RIGHT TO USE A ROAD OR PATH OR CUT TREES
56 OR CROPS? YES NO (IF YES, EXPLAIN BELOW)
S. 4672--A 3
1 8. DOES ANYONE ELSE CLAIM TO OWN ANY PART OF YOUR PROPERTY? YES NO (IF
2 YES, EXPLAIN BELOW)
3 9. HAS ANYONE DENIED YOU ACCESS TO THE PROPERTY OR MADE A FORMAL LEGAL
4 CLAIM CHALLENGING YOUR TITLE TO THE PROPERTY? YES NO (IF YES, EXPLAIN
5 BELOW)
6 10. ARE THERE ANY FEATURES OF THE PROPERTY SHARED IN COMMON WITH
7 ADJOINING LAND OWNERS OR A HOMEOWNERS ASSOCIATION, SUCH AS WALLS, FENCES
8 OR DRIVEWAYS? YES NO (IF YES, DESCRIBE BELOW)
9 11. ARE THERE ANY SPECIAL TAX ASSESSMENTS OR EXEMPTIONS THAT APPLY TO
10 THE PROPERTY? YES NO (IF YES, EXPLAIN BELOW)
11 12. ARE THERE ANY HOMEOWNER OR OTHER ASSOCIATION FEES THAT APPLY TO
12 THE PROPERTY? YES NO (IF YES, EXPLAIN BELOW)
13 ENVIRONMENTAL
14 NOTE TO SELLER - IN THIS SECTION, YOU WILL BE ASKED QUESTIONS REGARD-
15 ING PETROLEUM PRODUCTS AND HAZARDOUS OR TOXIC SUBSTANCES THAT YOU KNOW
16 TO HAVE BEEN SPILLED, LEAKED OR OTHERWISE BEEN RELEASED ON THE PROPERTY
17 OR FROM THE PROPERTY ONTO ANY OTHER PROPERTY. PETROLEUM PRODUCTS MAY
18 INCLUDE, BUT ARE NOT LIMITED TO, GASOLINE, DIESEL FUEL, HOME HEATING
19 FUEL, AND LUBRICANTS. HAZARDOUS OR TOXIC SUBSTANCES ARE PRODUCTS THAT
20 COULD POSE SHORT- OR LONG-TERM DANGER TO PERSONAL HEALTH OR THE ENVIRON-
21 MENT IF THEY ARE NOT PROPERLY DISPOSED OF, APPLIED OR STORED. THESE
22 INCLUDE, BUT ARE NOT LIMITED TO, FERTILIZERS, PESTICIDES AND INSECTI-
23 CIDES, PAINT INCLUDING PAINT THINNER, VARNISH REMOVER AND WOOD PRESERVA-
24 TIVES, TREATED WOOD, CONSTRUCTION MATERIALS SUCH AS ASPHALT AND ROOFING
25 MATERIALS, ANTIFREEZE AND OTHER AUTOMOTIVE PRODUCTS, BATTERIES, CLEANING
26 SOLVENTS INCLUDING SEPTIC TANK CLEANERS, HOUSEHOLD CLEANERS AND POOL
27 CHEMICALS AND PRODUCTS CONTAINING MERCURY AND LEAD.
28 NOTE TO BUYER - HAZARDOUS OR TOXIC SUBSTANCES CAN POSE SHORT- OR
29 LONG-TERM DANGER TO PERSONAL HEALTH OR THE ENVIRONMENT IF THEY ARE NOT
30 PROPERLY DISPOSED OF, APPLIED OR STORED. IF CONTAMINATION OF THIS PROP-
31 ERTY FROM HAZARDOUS OR TOXIC SUBSTANCES IS A CONCERN TO YOU, YOU ARE
32 URGED TO CONSIDER SOIL AND GROUNDWATER TESTING OF THIS PROPERTY. IF THE
33 STRUCTURE WAS BUILT BEFORE 1978 YOU ARE ENTITLED TO RECEIVE INFORMATION
34 REGARDING THE POSSIBLE PRESENCE OF LEAD BASED PAINT IN THE RESIDENCE.
35 13. IS ANY OR ALL OF THE PROPERTY LOCATED IN A DESIGNATED FLOODPLAIN
36 OR DESIGNATED WETLAND? YES NO UNKNOWN (IF YES, EXPLAIN BELOW)
37 14. HAS ANY OR ALL OF THE PROPERTY EVER BEEN THE SITE OF A CLEAN OR
38 WASTE LANDFILL? YES NO UNKNOWN (IF YES, EXPLAIN BELOW)
39 15. ARE THERE OR HAS THERE EVER BEEN FUEL STORAGE TANKS ABOVE OR BELOW
40 THE GROUND ON THE PROPERTY? YES NO UNKNOWN
41 IF YES, ARE THEY CURRENTLY IN USE? YES NO
42 IF YES, WHERE ARE THEY LOCATED? (EXPLAIN BELOW)
43 IF YES, ARE THEY LEAKING? YES NO (IF YES, EXPLAIN BELOW)
44 IF YES, HAVE THEY EVER LEAKED? YES NO (IF YES, EXPLAIN BELOW)
45 16. IS THERE ASBESTOS INSIDE OR OUTSIDE (E.G. IN EXTERIOR SIDING) THE
46 STRUCTURE(S)? YES NO UNKNOWN (IF YES, ATTACH ANY TEST REPORTS)
47 17. IS THERE LEAD PLUMBING INSIDE THE STRUCTURE(S)? YES NO UNKNOWN (IF
48 YES, ATTACH ANY TEST REPORTS)
49 18. HAS RADON GAS EVER BEEN DETECTED INSIDE THE STRUCTURE? YES NO
50 UNKNOWN (IF YES, ATTACH ANY TEST REPORTS)
51 19. HAVE PESTICIDES OR LAWN OR VEGETATION CARE SUBSTANCES BEEN APPLIED
52 IN THE LAST SIX (6) MONTHS? YES NO UNKNOWN (IF YES, DESCRIBE BELOW AND
53 ATTACH ANY REPORTS)
54 20. HAS ANY PETROLEUM PRODUCT, METHANE GAS OR ANY HAZARDOUS OR TOXIC
55 SUBSTANCE SPILLED, LEAKED OR OTHERWISE RELEASED ON THE PROPERTY OR FROM
S. 4672--A 4
1 THE PROPERTY ONTO ANY OTHER PROPERTY? YES NO UNKNOWN (IF YES, DESCRIBE
2 BELOW)
3 21. HAS THE PROPERTY EVER BEEN TESTED FOR THE PRESENCE OF PETROLEUM
4 PRODUCTS, METHANE GAS, TOXIC MOLD OR ANY HAZARDOUS OR TOXIC SUBSTANCE?
5 YES NO UNKNOWN (IF YES, ATTACH ANY REPORTS)
6 STRUCTURAL
7 22. IS THERE ANY ROT OR WATER DAMAGE TO THE STRUCTURE OR STRUCTURES?
8 YES NO UNKNOWN (IF YES, EXPLAIN BELOW)
9 23. IS THERE ANY REPAIRED OR UN-REPAIRED FIRE OR SMOKE DAMAGE TO THE
10 STRUCTURE OR STRUCTURES? YES NO UNKNOWN (IF YES, EXPLAIN BELOW)
11 24. IS THERE ANY REPAIRED OR UN-REPAIRED TERMITE, INSECT, RODENT OR
12 PEST INFESTATION OR DAMAGE? YES NO UNKNOWN (IF YES, EXPLAIN BELOW AND
13 ATTACH ANY TEST REPORTS)
14 25. ARE THERE ANY MATERIAL DEFECTS IN ANY OF THE FOLLOWING STRUCTURAL
15 SYSTEMS: FOOTINGS, BEAMS, GIRDERS, LINTELS, COLUMNS OR PARTITIONS? YES
16 NO UNKNOWN (IF YES, EXPLAIN BELOW)
17 26. WHAT TYPE OF ROOF COVERS THE STRUCTURE: SLATE, ASPHALT, OTHER?
18 (CIRCLE ALL THAT APPLY, IF OTHER, EXPLAIN BELOW)
19 ARE THERE ANY KNOWN MATERIAL DEFECTS? YES NO UNKNOWN (IF YES, EXPLAIN
20 BELOW)
21 DO YOU KNOW HOW OLD THE ROOF IS? YES NO UNKNOWN (IF YES, INDICATE AGE
22 BELOW)
23 IS THERE A TRANSFERABLE WARRANTY ON THE ROOF IN EFFECT NOW? YES NO
24 UNKNOWN (IF YES, EXPLAIN BELOW)
25 27. WHAT TYPE OF SIDING OR EXTERIOR WALL COVERING COVERS THE STRUC-
26 TURE: VINYL, ALUMINUM, BRICK, OTHER? (CIRCLE ALL THAT APPLY, IF OTHER,
27 EXPLAIN BELOW)
28 ARE THERE ANY KNOWN MATERIAL DEFECTS? YES NO UNKNOWN (IF YES, EXPLAIN
29 BELOW)
30 DO YOU KNOW HOW OLD THE PRODUCT IS? YES NO UNKNOWN (IF YES, INDICATE
31 AGE BELOW)
32 IS THERE A TRANSFERABLE WARRANTY ON THE PRODUCT IN EFFECT NOW? YES NO
33 UNKNOWN (IF YES, EXPLAIN BELOW)
34 IS THE EXISTING SIDING COVERING A PRE-EXISTING SIDING OR EXTERIOR WALL
35 COVERING? YES NO UNKNOWN (IF YES, EXPLAIN BELOW)
36 MECHANICAL SYSTEMS & SERVICES
37 28. WHAT IS THE WATER SOURCE - WELL, PRIVATE, MUNICIPAL OR OTHER?
38 (CIRCLE ALL THAT APPLY, IF OTHER, EXPLAIN BELOW)
39 IF MUNICIPAL, IS IT METERED? YES NO
40 IF A WELL, HAS IT EVER RUN DRY? YES NO UNKNOWN
41 IF A WELL, DO YOU KNOW HOW OLD THE PUMP IS? YES NO UNKNOWN (IF YES,
42 INDICATE AGE BELOW)
43 IF A WELL, DO YOU KNOW HOW OLD THE WATER STORAGE TANK IS? YES NO
44 UNKNOWN (IF YES, INDICATE AGE BELOW)
45 29. HAS THE WATER QUALITY AND/OR FLOW RATE EVER BEEN TESTED? YES NO
46 UNKNOWN (IF YES, DESCRIBE BELOW AND ATTACH ANY TEST RESULTS)
47 30. WHAT IS THE TYPE OF SEWAGE SYSTEM - PUBLIC SEWER, PRIVATE SEWER,
48 SEPTIC OR CESSPOOL? (CIRCLE ALL THAT APPLY)
49 IF SEPTIC OR CESSPOOL, DO YOU KNOW ITS AGE? YES NO UNKNOWN (IF YES,
50 INDICATE AGE BELOW)
51 DO YOU KNOW THE DATE IT WAS LAST PUMPED? YES NO UNKNOWN (IF YES, INDI-
52 CATE WHEN BELOW)
53 DO YOU KNOW THE FREQUENCY OF PUMPING? YES NO UNKNOWN (IF YES, INDICATE
54 FREQUENCY)
55 ARE THERE ANY MATERIAL DEFECTS TO THE SEWAGE SYSTEM? YES NO UNKNOWN
56 (IF YES, EXPLAIN BELOW)
S. 4672--A 5
1 31. WHO IS YOUR ELECTRIC SERVICE PROVIDER?
2 DOES THE PROPERTY HAVE CIRCUIT BREAKERS OR FUSES?
3 PRIVATE OR PUBLIC POLES?
4 ARE THERE ANY MATERIAL DEFECTS TO THE ELECTRICAL SYSTEM? YES NO
5 UNKNOWN (IF YES, EXPLAIN BELOW)
6 32. IS THERE ANY FLOODING, DRAINAGE OR GRADING PROBLEMS THAT RESULT IN
7 STANDING WATER ON ANY PORTION OF THE PROPERTY? YES NO UNKNOWN NA (IF
8 YES, STATE LOCATIONS AND EXPLAIN BELOW)
9 33. IS THERE ANY CONDITION THAT RESULTS IN STANDING WATER IN THE BASE-
10 MENT? YES NO UNKNOWN (IF YES, EXPLAIN BELOW)
11 34. WHAT FUELS THE HEATING SYSTEM: OIL, GAS, ELECTRIC, WOOD, OTHER?
12 (CIRCLE ALL THAT APPLY; IF OTHER, EXPLAIN BELOW). HOW THE HEAT IS CIRCU-
13 LATED: FORCED HOT AIR, HOT WATER RADIANT, ELECTRIC, OTHER? (CIRCLE ALL
14 THAT APPLY; IF OTHER, EXPLAIN BELOW).
15 35. WHAT IS THE TYPE OF UNIT THAT PROVIDES HOT RUNNING WATER: OIL,
16 GAS, ELECTRIC, OTHER? (CIRCLE ALL THAT APPLY; IF OTHER, EXPLAIN BELOW)
17 ARE EACH OF THE FOLLOWING IN WORKING ORDER? (IF NO, EXPLAIN BELOW.
18 USE ADDITIONAL SHEETS IF NECESSARY):
19 WORKING ORDER
20 36. PLUMBING SYSTEM? YES NO UNKNOWN
21 37. SECURITY SYSTEM? YES NO UNKNOWN NA
22 38. FIRE SPRINKLER SYSTEM? YES NO UNKNOWN NA
23 39. SUMP PUMP? YES NO UNKNOWN NA
24 40. CHIMNEY/FIREPLACE OR WOODSTOVE? YES NO UNKNOWN NA
25 41. AIR CONDITIONING UNITS AND SYSTEM? YES NO UNKNOWN NA
26 42. HEATING SYSTEM? YES NO UNKNOWN
27 43. HOT WATER SYSTEM? YES NO UNKNOWN
28 44. CENTRAL VACUUM SYSTEM? YES NO UNKNOWN NA
29 45. SWIMMING POOL? YES NO UNKNOWN NA
30 46. HOT TUB/SPA? YES NO UNKNOWN NA
31 ARE THERE ANY DEFECTS IN ANY OF THE FOLLOWING? (IF YES, EXPLAIN BELOW.
32 USE ADDITIONAL SHEETS IF NECESSARY):
33 DEFECTS
34 47. FOUNDATION/SLAB? YES NO UNKNOWN
35 48. INTERIOR WALLS/CEILINGS? YES NO UNKNOWN
36 49. EXTERIOR WALLS OR SIDING? YES NO UNKNOWN
37 50. FLOORS? YES NO UNKNOWN
38 51. PATIO/DECK/PORCHES? YES NO UNKNOWN NA
39 STATUTORY DISCLOSURE REQUIREMENTS
40 52. IS THERE ELECTRICITY SUPPLIED TO THE PROPERTY BY A UTILITY COMPA-
41 NY? YES NO
42 53. ARE THERE ANY ELECTRIC, GAS OR WATER DISTRICT SURCHARGES ASSESSED
43 AGAINST THE PROPERTY? YES NO
44 IF YES TO ANY OF THESE SURCHARGES, THE FOLLOWING STATEMENT APPLIES:
45 "THIS PROPERTY IS SUBJECT TO AN ELECTRIC, GAS AND/OR WATER UTILITY
46 SURCHARGE"
47 THE FOLLOWING MUST ALSO BE COMPLETED.
48 TYPE AND PURPOSE OF SURCHARGE:
49 AMOUNT OF THE SURCHARGE:
50 PAYABLE ON A MONTHLY, YEARLY OR OTHER BASIS:
51 54. IS ANY OR ALL OF THE PROPERTY LOCATED IN A DESIGNATED AGRICULTURAL
52 DISTRICT? YES NO (IF YES, THE FOLLOWING DISCLOSURE NOTICE APPLIES)
53 IT IS THE POLICY OF THIS STATE AND THIS COMMUNITY TO CONSERVE, PROTECT
54 AND ENCOURAGE THE DEVELOPMENT AND IMPROVEMENT OF AGRICULTURAL LAND FOR
55 THE PRODUCTION OF FOOD, AND OTHER PRODUCTS, AND ALSO FOR ITS NATURAL AND
56 ECOLOGICAL VALUE. THIS DISCLOSURE NOTICE IS TO INFORM PROSPECTIVE RESI-
S. 4672--A 6
1 DENTS THAT THE PROPERTY THEY ARE ABOUT TO ACQUIRE LIES PARTIALLY OR
2 WHOLLY WITHIN AN AGRICULTURAL DISTRICT AND THAT FARMING ACTIVITIES OCCUR
3 WITHIN THE DISTRICT. SUCH FARMING ACTIVITIES MAY INCLUDE, BUT NOT BE
4 LIMITED TO, ACTIVITIES THAT CAUSE NOISE, DUST AND ODORS. PROSPECTIVE
5 RESIDENTS ARE ALSO INFORMED THAT THE LOCATION OF PROPERTY WITHIN AN
6 AGRICULTURAL DISTRICT MAY IMPACT THE ABILITY TO ACCESS WATER AND/OR
7 SEWER SERVICES FOR SUCH PROPERTY UNDER CERTAIN CIRCUMSTANCES. PROSPEC-
8 TIVE PURCHASERS ARE URGED TO CONTACT THE NEW YORK STATE DEPARTMENT OF
9 AGRICULTURE AND MARKETS TO OBTAIN ADDITIONAL INFORMATION OR CLARIFICA-
10 TION REGARDING THEIR RIGHTS AND OBLIGATIONS UNDER ARTICLE 25-AA OF THE
11 AGRICULTURE AND MARKETS LAW.
12 55. IS THERE AN UNCAPPED NATURAL GAS WELL LOCATED ON THE PROPERTY? YES
13 NO
14 NOTE: BUYER IS ENCOURAGED TO CHECK PUBLIC RECORDS CONCERNING THE PROP-
15 ERTY (E.G. TAX RECORDS AND WETLAND AND FLOODPLAIN MAPS).
16 THE SELLER SHOULD USE THIS AREA TO FURTHER EXPLAIN ANY ITEM ABOVE. IF
17 NECESSARY, ATTACH ADDITIONAL PAGES AND INDICATE HERE THE NUMBER OF ADDI-
18 TIONAL PAGES ATTACHED.
19 ________________________________________________________________________
20 ________________________________________________________________________
21 ________________________________________________________________________
22 ________________________________________________________________________
23 ________________________________________________________________________
24 SELLER'S CERTIFICATION: SELLER CERTIFIES THAT THE INFORMATION IN THIS
25 PROPERTY CONDITION DISCLOSURE STATEMENT IS TRUE AND COMPLETE TO THE
26 SELLER'S ACTUAL KNOWLEDGE AS OF THE DATE SIGNED BY THE SELLER. IF A
27 SELLER OF RESIDENTIAL REAL PROPERTY ACQUIRES KNOWLEDGE WHICH RENDERS
28 MATERIALLY INACCURATE A PROPERTY CONDITION DISCLOSURE STATEMENT PROVIDED
29 PREVIOUSLY, THE SELLER SHALL DELIVER A REVISED PROPERTY CONDITION
30 DISCLOSURE STATEMENT TO THE BUYER AS SOON AS PRACTICABLE. IN NO EVENT,
31 HOWEVER, SHALL A SELLER BE REQUIRED TO PROVIDE A REVISED PROPERTY CONDI-
32 TION DISCLOSURE STATEMENT AFTER THE TRANSFER OF TITLE FROM THE SELLER TO
33 THE BUYER OR OCCUPANCY BY THE BUYER, WHICHEVER IS EARLIER.
34 SELLER'S SIGNATURE DATE
35 SELLER'S SIGNATURE DATE
36 BUYER'S ACKNOWLEDGMENT: BUYER ACKNOWLEDGES RECEIPT OF A COPY OF THIS
37 STATEMENT AND BUYER UNDERSTANDS THAT THIS INFORMATION IS A STATEMENT OF
38 CERTAIN CONDITIONS AND INFORMATION CONCERNING THE PROPERTY KNOWN TO THE
39 SELLER. IT IS NOT A WARRANTY OF ANY KIND BY THE SELLER OR SELLER'S AGENT
40 AND IS NOT A SUBSTITUTE FOR ANY HOME, PEST, RADON OR OTHER INSPECTIONS
41 OR TESTING OF THE PROPERTY OR INSPECTION OF THE PUBLIC RECORDS.
42 BUYER'S SIGNATURE _______________________ DATE ________________
43 BUYER'S SIGNATURE _______________________ DATE ________________
44 S 2. Section 464 of the real property law, as added by chapter 456 of
45 the laws of 2001, is amended to read as follows:
46 S 464. Revision. If a seller of residential real property acquires
47 knowledge which renders materially inaccurate a property condition
48 disclosure statement provided previously, OTHER THAN BY MEANS OF AN
49 INSPECTION REPORT OBTAINED BY THE BUYER, the seller shall deliver a
50 revised property condition disclosure statement to the buyer as soon as
51 practicable. In no event, however, shall a seller be required to provide
52 a revised property condition disclosure statement after the transfer of
53 title from the seller to the buyer or occupancy by the buyer, whichever
54 is earlier.
55 S 3. Subdivision 1 of section 465 of the real property law, as added
56 by chapter 456 of the laws of 2001, is amended to read as follows:
S. 4672--A 7
1 1. In the event a seller fails to perform the duty prescribed in this
2 article to deliver a COMPLETE disclosure statement prior to the signing
3 by the buyer of a binding contract of sale, the buyer shall receive upon
4 the transfer of title a credit of five hundred dollars against the
5 agreed upon purchase price of the residential real property.
6 S 4. This act shall take effect on the sixtieth day after it shall
7 have become a law, and shall apply to binding contracts for the sale of
8 residential real property signed on or after such effective date.
