Senate Bill S4672A

                            
                    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:

  Section  1.  Subdivision  2 of section 462 of the real property law is
REPEALED and a new subdivision 2 is added to read as follows:
  2. THE FOLLOWING SHALL BE THE DISCLOSURE FORM:
                 PROPERTY CONDITION DISCLOSURE STATEMENT
NAME OF SELLER OR SELLERS:
PROPERTY ADDRESS:
PURPOSE OF THE PROPERTY CONDITION DISCLOSURE STATEMENT:
  THE PROPERTY CONDITION DISCLOSURE ACT REQUIRES THE SELLER OF  RESIDEN-
TIAL  REAL PROPERTY TO CAUSE THIS DISCLOSURE STATEMENT 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.
YOUR OBLIGATIONS AS A SELLER OF RESIDENTIAL REAL PROPERTY
  SELLERS  MUST  ANSWER  THE  QUESTIONS  ON THE FORM BASED UPON PROPERTY
CONDITIONS THAT THE SELLER KNOWS TO EXIST  OR  HAVE  EXISTED,  INCLUDING
THOSE  CONDITIONS  MADE KNOWN TO THE SELLER BY OTHERS. THE SELLER IS NOT
REQUIRED TO INVESTIGATE THE PROPERTY IN ORDER TO ANSWER  THE  QUESTIONS.
"RESIDENTIAL  REAL  PROPERTY"  MEANS  REAL PROPERTY IMPROVED BY A ONE TO
FOUR FAMILY DWELLING USED OR OCCUPIED, OR INTENDED TO BE USED  OR  OCCU-
PIED, WHOLLY OR PARTLY, AS THE HOME OR RESIDENCE OF ONE OR MORE PERSONS,
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

DWELLINGS ARE TO BE CONSTRUCTED OR (B) CONDOMINIUM UNITS OR  COOPERATIVE
APARTMENTS  OR  (C)  PROPERTY  IN  A HOMEOWNERS' ASSOCIATION THAT IS NOT
OWNED  IN  FEE  SIMPLE  BY  THE  SELLER.  THERE  ARE  CERTAIN  STATUTORY
EXEMPTIONS  THAT ARE SET FORTH IN SECTION 463 OF THE NEW YORK STATE REAL
PROPERTY LAW.
  THE COMPLETED FORM OR A COPY THEREOF MUST BE DELIVERED TO A  BUYER  OR
BUYER'S AGENT PRIOR TO THE BUYER SIGNING A BINDING CONTRACT OF SALE. THE
SELLER  AUTHORIZES  HIS  OR HER AGENT, IF ANY, TO PROVIDE A COPY OF THIS
STATEMENT TO A PROSPECTIVE BUYER OF THE RESIDENTIAL REAL PROPERTY. SELL-
ERS MUST ALSO PROVIDE BUYERS WITH A  REVISED  STATEMENT  IF  THE  SELLER
ACQUIRES  KNOWLEDGE OR INFORMATION THAT RENDERS INACCURATE THE ANSWER TO
ANY QUESTION ON THE DISCLOSURE STATEMENT PROVIDED TO THE BUYER.
  THIS IS A LEGAL DOCUMENT. A KNOWINGLY FALSE OR INCOMPLETE STATEMENT BY
THE SELLER ON THIS FORM MAY SUBJECT THE SELLER TO CLAIMS  BY  THE  BUYER
PRIOR  TO OR AFTER THE TRANSFER OF TITLE. FOR ASSISTANCE SEEK THE ADVICE
OF AN ATTORNEY.
  IN THE EVENT A SELLER FAILS TO DELIVER A COMPLETE DISCLOSURE STATEMENT
PRIOR TO THE BUYER SIGNING A BINDING CONTRACT OF SALE, THE  BUYER  SHALL
RECEIVE  UPON  THE  TRANSFER  OF  TITLE A CREDIT OF FIVE HUNDRED DOLLARS
($500.00) AGAINST THE AGREED UPON PURCHASE PRICE OF THE RESIDENTIAL REAL
PROPERTY.
NOTE TO BUYER:
  BUYERS ARE REMINDED THAT THIS DISCLOSURE STATEMENT IS NOT  A  WARRANTY
OF  ANY  KIND  BY  THE SELLER OR BY ANY AGENT REPRESENTING THE SELLER IN
THIS TRANSACTION. IT IS NOT A SUBSTITUTE FOR ANY  INSPECTIONS  OR  TESTS
AND THE BUYER IS ENCOURAGED TO OBTAIN HIS OR HER OWN INDEPENDENT PROFES-
SIONAL  INSPECTIONS  AND  ENVIRONMENTAL  TESTS AND ALSO IS ENCOURAGED TO
CHECK PUBLIC RECORDS PERTAINING TO THE PROPERTY. THE FOLLOWING REPRESEN-
TATIONS ARE MADE BY THE SELLER AND ARE NOT THE  REPRESENTATIONS  OF  THE
SELLER'S AGENT.
INSTRUCTIONS TO THE SELLER:
  (A) ANSWER ALL QUESTIONS BASED UPON YOUR ACTUAL KNOWLEDGE OF THE PROP-
ERTY.
  (B) ATTACH ADDITIONAL PAGES WITH YOUR SIGNATURE IF ADDITIONAL SPACE IS
REQUIRED.
  (C) COMPLETE THIS FORM YOURSELF, OR SEEK THE ADVICE OF AN ATTORNEY.
  (D)  IF  SOME ITEMS DO NOT APPLY TO YOUR PROPERTY, CHECK "NA" (NON-AP-
PLICABLE).
  (E) BY INDICATING "YES" OR "NO" YOU ARE STATING THAT YOU  HAVE  ACTUAL
KNOWLEDGE AS TO THE SUBJECT MATTER OF THE QUESTION.
  (F)  BY  INDICATING  "UNKNOWN" YOU ARE STATING THAT YOU HAVE NO ACTUAL
KNOWLEDGE AS TO THE SUBJECT MATTER OF THE QUESTION.
GENERAL INFORMATION
  1. HOW LONG HAVE YOU OWNED THE PROPERTY?
  2. HOW LONG HAVE YOU OCCUPIED THE PROPERTY?
  3. WHAT IS THE AGE OF THE STRUCTURE OR STRUCTURES?
  4. IS THERE A CERTIFICATE OF OCCUPANCY/COMPLIANCE RELATED TO THE PROP-
ERTY?
  YES NO (IF YES, LIST OR ATTACH ALL CERTIFICATES, IF NO, EXPLAIN BELOW)
  5. HAVE YOU MADE ANY IMPROVEMENTS TO THE PROPERTY? YES NO. IF YES,  DO
YOU  KNOW  IF  ANY  OF  THEM REQUIRED A PERMIT? YES NO (IF YES, DESCRIBE
IMPROVEMENT AND LIST OR ATTACH ALL PERMITS)
  6. WHAT SCHOOL DISTRICT IS THE PROPERTY LOCATED IN?
  7. DOES ANYONE ELSE CLAIM A RIGHT TO USE ANY  PART  OF  YOUR  PROPERTY
SUCH  AS A LEASE, EASEMENT OR A RIGHT TO USE A ROAD OR PATH OR CUT TREES
OR CROPS? YES NO (IF YES, EXPLAIN BELOW)

S. 4672--A                          3

  8. DOES ANYONE ELSE CLAIM TO OWN ANY PART OF YOUR PROPERTY? YES NO (IF
YES, EXPLAIN BELOW)
  9. HAS ANYONE DENIED YOU ACCESS TO THE PROPERTY OR MADE A FORMAL LEGAL
CLAIM  CHALLENGING  YOUR  TITLE TO THE PROPERTY? YES NO (IF YES, EXPLAIN
BELOW)
  10. ARE THERE ANY FEATURES OF  THE  PROPERTY  SHARED  IN  COMMON  WITH
ADJOINING LAND OWNERS OR A HOMEOWNERS ASSOCIATION, SUCH AS WALLS, FENCES
OR DRIVEWAYS?  YES NO (IF YES, DESCRIBE BELOW)
  11.  ARE THERE ANY SPECIAL TAX ASSESSMENTS OR EXEMPTIONS THAT APPLY TO
THE PROPERTY? YES NO (IF YES, EXPLAIN BELOW)
  12. ARE THERE ANY HOMEOWNER OR OTHER ASSOCIATION FEES  THAT  APPLY  TO
THE PROPERTY? YES NO (IF YES, EXPLAIN BELOW)
ENVIRONMENTAL
  NOTE  TO SELLER - IN THIS SECTION, YOU WILL BE ASKED QUESTIONS REGARD-
ING PETROLEUM PRODUCTS AND HAZARDOUS OR TOXIC SUBSTANCES THAT  YOU  KNOW
TO  HAVE BEEN SPILLED, LEAKED OR OTHERWISE BEEN RELEASED ON THE PROPERTY
OR FROM THE PROPERTY ONTO ANY OTHER  PROPERTY.  PETROLEUM  PRODUCTS  MAY
INCLUDE,  BUT  ARE  NOT  LIMITED TO, GASOLINE, DIESEL FUEL, HOME HEATING
FUEL, AND LUBRICANTS.  HAZARDOUS OR TOXIC SUBSTANCES ARE  PRODUCTS  THAT
COULD POSE SHORT- OR LONG-TERM DANGER TO PERSONAL HEALTH OR THE ENVIRON-
MENT  IF  THEY  ARE  NOT  PROPERLY DISPOSED OF, APPLIED OR STORED. THESE
INCLUDE, BUT ARE NOT LIMITED TO, FERTILIZERS,  PESTICIDES  AND  INSECTI-
CIDES, PAINT INCLUDING PAINT THINNER, VARNISH REMOVER AND WOOD PRESERVA-
TIVES,  TREATED WOOD, CONSTRUCTION MATERIALS SUCH AS ASPHALT AND ROOFING
MATERIALS, ANTIFREEZE AND OTHER AUTOMOTIVE PRODUCTS, BATTERIES, CLEANING
SOLVENTS INCLUDING SEPTIC TANK CLEANERS,  HOUSEHOLD  CLEANERS  AND  POOL
CHEMICALS AND PRODUCTS CONTAINING MERCURY AND LEAD.
  NOTE  TO  BUYER  -  HAZARDOUS  OR  TOXIC SUBSTANCES CAN POSE SHORT- OR
LONG-TERM DANGER TO PERSONAL HEALTH OR THE ENVIRONMENT IF THEY  ARE  NOT
PROPERLY  DISPOSED OF, APPLIED OR STORED. IF CONTAMINATION OF THIS PROP-
ERTY FROM HAZARDOUS OR TOXIC SUBSTANCES IS A CONCERN  TO  YOU,  YOU  ARE
URGED  TO CONSIDER SOIL AND GROUNDWATER TESTING OF THIS PROPERTY. IF THE
STRUCTURE WAS BUILT BEFORE 1978 YOU ARE ENTITLED TO RECEIVE  INFORMATION
REGARDING THE POSSIBLE PRESENCE OF LEAD BASED PAINT IN THE RESIDENCE.
  13.  IS  ANY OR ALL OF THE PROPERTY LOCATED IN A DESIGNATED FLOODPLAIN
OR DESIGNATED WETLAND? YES NO UNKNOWN (IF YES, EXPLAIN BELOW)
  14. HAS ANY OR ALL OF THE PROPERTY EVER BEEN THE SITE OF  A  CLEAN  OR
WASTE LANDFILL? YES NO UNKNOWN (IF YES, EXPLAIN BELOW)
  15. ARE THERE OR HAS THERE EVER BEEN FUEL STORAGE TANKS ABOVE OR BELOW
THE GROUND ON THE PROPERTY? YES NO UNKNOWN
  IF YES, ARE THEY CURRENTLY IN USE? YES NO
  IF YES, WHERE ARE THEY LOCATED? (EXPLAIN BELOW)
  IF YES, ARE THEY LEAKING? YES NO (IF YES, EXPLAIN BELOW)
  IF YES, HAVE THEY EVER LEAKED? YES NO (IF YES, EXPLAIN BELOW)
  16.  IS THERE ASBESTOS INSIDE OR OUTSIDE (E.G. IN EXTERIOR SIDING) THE
STRUCTURE(S)? YES NO UNKNOWN (IF YES, ATTACH ANY TEST REPORTS)
  17. IS THERE LEAD PLUMBING INSIDE THE STRUCTURE(S)? YES NO UNKNOWN (IF
YES, ATTACH ANY TEST REPORTS)
  18. HAS RADON GAS EVER BEEN DETECTED  INSIDE  THE  STRUCTURE?  YES  NO
UNKNOWN (IF YES, ATTACH ANY TEST REPORTS)
  19. HAVE PESTICIDES OR LAWN OR VEGETATION CARE SUBSTANCES BEEN APPLIED
IN  THE  LAST SIX (6) MONTHS? YES NO UNKNOWN (IF YES, DESCRIBE BELOW AND
ATTACH ANY REPORTS)
  20. HAS ANY PETROLEUM PRODUCT, METHANE GAS OR ANY HAZARDOUS  OR  TOXIC
SUBSTANCE  SPILLED, LEAKED OR OTHERWISE RELEASED ON THE PROPERTY OR FROM

S. 4672--A                          4

THE PROPERTY ONTO ANY OTHER PROPERTY? YES NO UNKNOWN (IF  YES,  DESCRIBE
BELOW)
  21.  HAS  THE  PROPERTY EVER BEEN TESTED FOR THE PRESENCE OF PETROLEUM
PRODUCTS, METHANE GAS, TOXIC MOLD OR ANY HAZARDOUS OR  TOXIC  SUBSTANCE?
YES NO UNKNOWN (IF YES, ATTACH ANY REPORTS)
STRUCTURAL
  22.  IS  THERE ANY ROT OR WATER DAMAGE TO THE STRUCTURE OR STRUCTURES?
YES NO UNKNOWN (IF YES, EXPLAIN BELOW)
  23. IS THERE ANY REPAIRED OR UN-REPAIRED FIRE OR SMOKE DAMAGE  TO  THE
STRUCTURE OR STRUCTURES? YES NO UNKNOWN (IF YES, EXPLAIN BELOW)
  24.  IS  THERE  ANY REPAIRED OR UN-REPAIRED TERMITE, INSECT, RODENT OR
PEST INFESTATION OR DAMAGE? YES NO UNKNOWN (IF YES,  EXPLAIN  BELOW  AND
ATTACH ANY TEST REPORTS)
  25.  ARE THERE ANY MATERIAL DEFECTS IN ANY OF THE FOLLOWING STRUCTURAL
SYSTEMS: FOOTINGS, BEAMS, GIRDERS, LINTELS, COLUMNS OR  PARTITIONS?  YES
NO UNKNOWN (IF YES, EXPLAIN BELOW)
  26.  WHAT  TYPE  OF  ROOF COVERS THE STRUCTURE: SLATE, ASPHALT, OTHER?
(CIRCLE ALL THAT APPLY, IF OTHER, EXPLAIN BELOW)
  ARE THERE ANY KNOWN MATERIAL DEFECTS? YES NO UNKNOWN (IF YES,  EXPLAIN
BELOW)
  DO  YOU KNOW HOW OLD THE ROOF IS? YES NO UNKNOWN (IF YES, INDICATE AGE
BELOW)
  IS THERE A TRANSFERABLE WARRANTY ON THE ROOF IN  EFFECT  NOW?  YES  NO
UNKNOWN (IF YES, EXPLAIN BELOW)
  27.  WHAT  TYPE  OF SIDING OR EXTERIOR WALL COVERING COVERS THE STRUC-
TURE:  VINYL, ALUMINUM, BRICK, OTHER? (CIRCLE ALL THAT APPLY, IF  OTHER,
EXPLAIN BELOW)
  ARE  THERE ANY KNOWN MATERIAL DEFECTS? YES NO UNKNOWN (IF YES, EXPLAIN
BELOW)
  DO YOU KNOW HOW OLD THE PRODUCT IS? YES NO UNKNOWN (IF  YES,  INDICATE
AGE BELOW)
  IS  THERE A TRANSFERABLE WARRANTY ON THE PRODUCT IN EFFECT NOW? YES NO
UNKNOWN (IF YES, EXPLAIN BELOW)
  IS THE EXISTING SIDING COVERING A PRE-EXISTING SIDING OR EXTERIOR WALL
COVERING? YES NO UNKNOWN (IF YES, EXPLAIN BELOW)
MECHANICAL SYSTEMS & SERVICES
  28. WHAT IS THE WATER SOURCE -  WELL,  PRIVATE,  MUNICIPAL  OR  OTHER?
(CIRCLE ALL THAT APPLY, IF OTHER, EXPLAIN BELOW)
  IF MUNICIPAL, IS IT METERED? YES NO
  IF A WELL, HAS IT EVER RUN DRY? YES NO UNKNOWN
  IF  A  WELL,  DO YOU KNOW HOW OLD THE PUMP IS? YES NO UNKNOWN (IF YES,
INDICATE AGE BELOW)
  IF A WELL, DO YOU KNOW HOW OLD THE  WATER  STORAGE  TANK  IS?  YES  NO
UNKNOWN (IF YES, INDICATE AGE BELOW)
  29.  HAS  THE  WATER QUALITY AND/OR FLOW RATE EVER BEEN TESTED? YES NO
UNKNOWN (IF YES, DESCRIBE BELOW AND ATTACH ANY TEST RESULTS)
  30. WHAT IS THE TYPE OF SEWAGE SYSTEM - PUBLIC SEWER,  PRIVATE  SEWER,
SEPTIC OR CESSPOOL? (CIRCLE ALL THAT APPLY)
  IF  SEPTIC  OR  CESSPOOL, DO YOU KNOW ITS AGE? YES NO UNKNOWN (IF YES,
INDICATE AGE BELOW)
  DO YOU KNOW THE DATE IT WAS LAST PUMPED? YES NO UNKNOWN (IF YES, INDI-
CATE WHEN BELOW)
  DO YOU KNOW THE FREQUENCY OF PUMPING? YES NO UNKNOWN (IF YES, INDICATE
FREQUENCY)
  ARE THERE ANY MATERIAL DEFECTS TO THE SEWAGE SYSTEM?  YES  NO  UNKNOWN
(IF YES, EXPLAIN BELOW)

S. 4672--A                          5

  31. WHO IS YOUR ELECTRIC SERVICE PROVIDER?
  DOES THE PROPERTY HAVE CIRCUIT BREAKERS OR FUSES?
  PRIVATE OR PUBLIC POLES?
  ARE  THERE  ANY  MATERIAL  DEFECTS  TO  THE  ELECTRICAL SYSTEM? YES NO
UNKNOWN (IF YES, EXPLAIN BELOW)
  32. IS THERE ANY FLOODING, DRAINAGE OR GRADING PROBLEMS THAT RESULT IN
STANDING WATER ON ANY PORTION OF THE PROPERTY? YES  NO  UNKNOWN  NA  (IF
YES, STATE LOCATIONS AND EXPLAIN BELOW)
  33. IS THERE ANY CONDITION THAT RESULTS IN STANDING WATER IN THE BASE-
MENT?  YES NO UNKNOWN (IF YES, EXPLAIN BELOW)
  34.  WHAT  FUELS  THE HEATING SYSTEM: OIL, GAS, ELECTRIC, WOOD, OTHER?
(CIRCLE ALL THAT APPLY; IF OTHER, EXPLAIN BELOW). HOW THE HEAT IS CIRCU-
LATED:  FORCED HOT AIR, HOT WATER RADIANT, ELECTRIC, OTHER? (CIRCLE  ALL
THAT APPLY; IF OTHER, EXPLAIN BELOW).
  35.  WHAT  IS  THE  TYPE OF UNIT THAT PROVIDES HOT RUNNING WATER: OIL,
GAS, ELECTRIC, OTHER? (CIRCLE ALL THAT APPLY; IF OTHER,  EXPLAIN  BELOW)
ARE EACH OF THE FOLLOWING IN WORKING ORDER? (IF NO, EXPLAIN BELOW.
USE ADDITIONAL SHEETS IF NECESSARY):
                                                    WORKING ORDER
  36.  PLUMBING SYSTEM?                             YES NO UNKNOWN
  37.  SECURITY SYSTEM?                             YES NO UNKNOWN NA
  38.  FIRE SPRINKLER SYSTEM?                       YES NO UNKNOWN NA
  39.  SUMP PUMP?                                   YES NO UNKNOWN NA
  40.  CHIMNEY/FIREPLACE OR WOODSTOVE?              YES NO UNKNOWN NA
  41.  AIR CONDITIONING UNITS AND SYSTEM?           YES NO UNKNOWN NA
  42.  HEATING SYSTEM?                              YES NO UNKNOWN
  43.  HOT WATER SYSTEM?                            YES NO UNKNOWN
  44.  CENTRAL VACUUM SYSTEM?                       YES NO UNKNOWN NA
  45.  SWIMMING POOL?                               YES NO UNKNOWN NA
  46.  HOT TUB/SPA?                                 YES NO UNKNOWN NA
  ARE THERE ANY DEFECTS IN ANY OF THE FOLLOWING? (IF YES, EXPLAIN BELOW.
USE ADDITIONAL SHEETS IF NECESSARY):
                                                    DEFECTS
  47.  FOUNDATION/SLAB?                             YES NO UNKNOWN
  48.  INTERIOR WALLS/CEILINGS?                     YES NO UNKNOWN
  49.  EXTERIOR WALLS OR SIDING?                    YES NO UNKNOWN
  50.  FLOORS?                                      YES NO UNKNOWN
  51.  PATIO/DECK/PORCHES?                          YES NO UNKNOWN NA
STATUTORY DISCLOSURE REQUIREMENTS
  52.  IS THERE ELECTRICITY SUPPLIED TO THE PROPERTY BY A UTILITY COMPA-
NY? YES NO
  53. ARE THERE ANY ELECTRIC, GAS OR WATER DISTRICT SURCHARGES  ASSESSED
AGAINST THE PROPERTY? YES NO
  IF YES TO ANY OF THESE SURCHARGES, THE FOLLOWING STATEMENT APPLIES:
  "THIS  PROPERTY  IS  SUBJECT  TO AN ELECTRIC, GAS AND/OR WATER UTILITY
SURCHARGE"
  THE FOLLOWING MUST ALSO BE COMPLETED.
  TYPE AND PURPOSE OF SURCHARGE:
  AMOUNT OF THE SURCHARGE:
  PAYABLE ON A MONTHLY, YEARLY OR OTHER BASIS:
  54. IS ANY OR ALL OF THE PROPERTY LOCATED IN A DESIGNATED AGRICULTURAL
DISTRICT? YES NO (IF YES, THE FOLLOWING DISCLOSURE NOTICE APPLIES)
  IT IS THE POLICY OF THIS STATE AND THIS COMMUNITY TO CONSERVE, PROTECT
AND ENCOURAGE THE DEVELOPMENT AND IMPROVEMENT OF AGRICULTURAL  LAND  FOR
THE PRODUCTION OF FOOD, AND OTHER PRODUCTS, AND ALSO FOR ITS NATURAL AND
ECOLOGICAL  VALUE. THIS DISCLOSURE NOTICE IS TO INFORM PROSPECTIVE RESI-

S. 4672--A                          6

DENTS THAT THE PROPERTY THEY ARE ABOUT  TO  ACQUIRE  LIES  PARTIALLY  OR
WHOLLY WITHIN AN AGRICULTURAL DISTRICT AND THAT FARMING ACTIVITIES OCCUR
WITHIN  THE  DISTRICT.  SUCH  FARMING ACTIVITIES MAY INCLUDE, BUT NOT BE
LIMITED  TO,  ACTIVITIES  THAT  CAUSE NOISE, DUST AND ODORS. PROSPECTIVE
RESIDENTS ARE ALSO INFORMED THAT THE  LOCATION  OF  PROPERTY  WITHIN  AN
AGRICULTURAL  DISTRICT  MAY  IMPACT  THE  ABILITY TO ACCESS WATER AND/OR
SEWER SERVICES FOR SUCH PROPERTY UNDER CERTAIN CIRCUMSTANCES.   PROSPEC-
TIVE  PURCHASERS  ARE  URGED TO CONTACT THE NEW YORK STATE DEPARTMENT OF
AGRICULTURE AND MARKETS TO OBTAIN ADDITIONAL INFORMATION  OR  CLARIFICA-
TION  REGARDING  THEIR RIGHTS AND OBLIGATIONS UNDER ARTICLE 25-AA OF THE
AGRICULTURE AND MARKETS LAW.
  55. IS THERE AN UNCAPPED NATURAL GAS WELL LOCATED ON THE PROPERTY? YES
NO
  NOTE: BUYER IS ENCOURAGED TO CHECK PUBLIC RECORDS CONCERNING THE PROP-
ERTY (E.G. TAX RECORDS AND WETLAND AND FLOODPLAIN MAPS).
THE SELLER SHOULD USE THIS AREA TO FURTHER EXPLAIN ANY  ITEM  ABOVE.  IF
NECESSARY, ATTACH ADDITIONAL PAGES AND INDICATE HERE THE NUMBER OF ADDI-
TIONAL PAGES ATTACHED.
________________________________________________________________________
________________________________________________________________________
________________________________________________________________________
________________________________________________________________________
________________________________________________________________________
  SELLER'S  CERTIFICATION: SELLER CERTIFIES THAT THE INFORMATION IN THIS
PROPERTY CONDITION DISCLOSURE STATEMENT IS  TRUE  AND  COMPLETE  TO  THE
SELLER'S  ACTUAL  KNOWLEDGE  AS  OF  THE DATE SIGNED BY THE SELLER. IF A
SELLER OF RESIDENTIAL REAL PROPERTY  ACQUIRES  KNOWLEDGE  WHICH  RENDERS
MATERIALLY INACCURATE A PROPERTY CONDITION DISCLOSURE STATEMENT PROVIDED
PREVIOUSLY,  THE  SELLER  SHALL  DELIVER  A  REVISED  PROPERTY CONDITION
DISCLOSURE STATEMENT TO THE BUYER AS SOON AS PRACTICABLE. IN  NO  EVENT,
HOWEVER, SHALL A SELLER BE REQUIRED TO PROVIDE A REVISED PROPERTY CONDI-
TION DISCLOSURE STATEMENT AFTER THE TRANSFER OF TITLE FROM THE SELLER TO
THE BUYER OR OCCUPANCY BY THE BUYER, WHICHEVER IS EARLIER.
SELLER'S SIGNATURE                 DATE
SELLER'S SIGNATURE                 DATE
BUYER'S  ACKNOWLEDGMENT:  BUYER  ACKNOWLEDGES  RECEIPT OF A COPY OF THIS
STATEMENT AND BUYER UNDERSTANDS THAT THIS INFORMATION IS A STATEMENT  OF
CERTAIN  CONDITIONS AND INFORMATION CONCERNING THE PROPERTY KNOWN TO THE
SELLER. IT IS NOT A WARRANTY OF ANY KIND BY THE SELLER OR SELLER'S AGENT
AND IS NOT A SUBSTITUTE FOR ANY HOME, PEST, RADON OR  OTHER  INSPECTIONS
OR TESTING OF THE PROPERTY OR INSPECTION OF THE PUBLIC RECORDS.
BUYER'S SIGNATURE _______________________ DATE ________________
BUYER'S SIGNATURE _______________________ DATE ________________
  S  2. Section 464 of the real property law, as added by chapter 456 of
the laws of 2001, is amended to read as follows:
  S 464. Revision. If a seller of  residential  real  property  acquires
knowledge  which  renders  materially  inaccurate  a  property condition
disclosure statement provided previously, OTHER  THAN  BY  MEANS  OF  AN
INSPECTION  REPORT  OBTAINED  BY  THE  BUYER, the seller shall deliver a
revised property condition disclosure statement to the buyer as soon  as
practicable. In no event, however, shall a seller be required to provide
a  revised property condition disclosure statement after the transfer of
title from the seller to the buyer or occupancy by the buyer,  whichever
is earlier.
  S  3.  Subdivision 1 of section 465 of the real property law, as added
by chapter 456 of the laws of 2001, is amended to read as follows:

S. 4672--A                          7

  1. In the event a seller fails to perform the duty prescribed in  this
article  to deliver a COMPLETE disclosure statement prior to the signing
by the buyer of a binding contract of sale, the buyer shall receive upon
the transfer of title a credit  of  five  hundred  dollars  against  the
agreed upon purchase price of the residential real property.
  S  4.  This  act  shall take effect on the sixtieth day after it shall
have become a law, and shall apply to binding contracts for the sale  of
residential real property signed on or after such effective date.