Bill Text: NY S06131 | 2017-2018 | General Assembly | Introduced

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Bill Title: Relates to the definition of residence and residential real property.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2018-01-03 - REFERRED TO JUDICIARY [S06131 Detail]

Download: New_York-2017-S06131-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________
                                          6131
                               2017-2018 Regular Sessions
                    IN SENATE
                                      May 11, 2017
                                       ___________
        Introduced  by  Sen. PERALTA -- read twice and ordered printed, and when
          printed to be committed to the Committee on Judiciary
        AN ACT to amend the real property law, in relation to the definition  of
          residence and residential real property
          The  People of the State of New York, represented in Senate and Assem-
        bly, do enact as follows:
     1    Section 1. Paragraph (k) of subdivision 2 of section 265-a of the real
     2  property law, as added by chapter 308 of the laws of 2006, is amended to
     3  read as follows:
     4    (k) "Residence" and "residential real property" means residential real
     5  property consisting of one- to four-family dwelling units[, one of which
     6  the equity seller occupies or occupied at a time  immediately  prior  to
     7  the equity sale as his or her primary residence].
     8    § 2. This act shall take effect immediately.
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD04037-01-7