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Assembly Bill A1449

2009-2010 Legislative Session

Requires a property disclosure statement from the seller of residential real property in the city of New York containing one or more apartments

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Archive: Last Bill Status - In Assembly Committee

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2009-A1449 (ACTIVE) - Details

Current Committee:
Assembly Judiciary
Law Section:
Real Property Law
Laws Affected:
Add ยง462-a, RP L

2009-A1449 (ACTIVE) - Summary

Requires a property disclosure statement from the seller of residential real property in the city of New York containing one or more apartments; further requires such property disclosure statement to be filed with the county clerk's office; directs the New York City department of buildings to provide by rule or regulation for a clear and uniform method of measuring an existing apartment to provide consistency and accuracy in the computation of the amount of square feet of space being offered for sale, rent or conveyance.

2009-A1449 (ACTIVE) - Bill Text download pdf 

                            
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  1449

                       2009-2010 Regular Sessions

                          I N  A S S E M B L Y

                               (PREFILED)

                             January 7, 2009
                               ___________

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 sale of real
  estate

  THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section  1.  The  real property law is amended by adding a new section
462-a to read as follows:
  S 462-A. PROPERTY DISCLOSURE STATEMENT. 1. NOTWITHSTANDING  ANY  OTHER
PROVISION  OF  THIS ARTICLE TO THE CONTRARY, EVERY SELLER OF RESIDENTIAL
REAL PROPERTY LOCATED WITHIN THE CITY OF NEW YORK CONTAINING ONE OR MORE
APARTMENTS, AS DEFINED IN SECTION FOUR OF  THE  MULTIPLE  DWELLING  LAW,
SHALL COMPLETE AND SIGN A PROPERTY DISCLOSURE STATEMENT AS PRESCRIBED BY
SUBDIVISION  TWO  OF THIS SECTION AND CAUSE IT, OR A COPY THEREOF, TO BE
DELIVERED TO A BUYER OR BUYER'S AGENT PRIOR TO THE SIGNING BY THE  BUYER
OF  A BINDING CONTRACT OF SALE. A COPY OF SUCH PROPERTY DISCLOSURE SHALL
ALSO BE FILED IN THE COUNTY CLERK'S OFFICE.
  2. THE DISCLOSURE STATEMENT SHALL STATE HOW MANY SQUARE FEET AN APART-
MENT OR PIECE OF REAL ESTATE CONTAINS.
  3. THE FLOOR PLANS STATING THE SQUARE FOOTAGE OF THE  APARTMENT  BEING
SOLD SHALL BE FILED WITH THE NEW YORK CITY DEPARTMENT OF HOUSING PRESER-
VATION  AND  DEVELOPMENT  AND THE NEW YORK CITY DEPARTMENT OF BUILDINGS.
SUCH PLANS SHALL BE MADE AVAILABLE FOR PUBLIC  INSPECTION  AND  COPYING.
THE NEW YORK CITY DEPARTMENT OF HOUSING PRESERVATION AND DEVELOPMENT AND
THE  NEW  YORK  CITY  DEPARTMENT OF BUILDINGS SHALL MAKE AVAILABLE, AT A
COST TO BE DETERMINED BY SUCH  DEPARTMENTS,  CERTIFIED  COPIES  OF  SUCH
FLOOR PLANS AND ONLY SUCH CERTIFIED COPIES SHALL BE USED FOR REAL ESTATE
PURPOSES.
  4.  THE NEW YORK CITY DEPARTMENT OF BUILDINGS SHALL PROVIDE BY RULE OR
REGULATION FOR A CLEAR AND  UNIFORM  METHOD  OF  MEASURING  AN  EXISTING

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.

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