senate Bill S700

2011-2012 Legislative Session

Relates to requiring disclosure of results of water testing of private residences at the time of sale or transfer

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Senate Committee


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed/Vetoed by Governor

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Actions

view actions (2)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jan 04, 2012 referred to judiciary
Jan 05, 2011 referred to judiciary

S700 - Details

Law Section:
Real Property Law
Laws Affected:
Add §462-a, amd §463, RP L
Versions Introduced in 2009-2010 Legislative Session:
S1251

S700 - Summary

Relates to requiring disclosure of results of water testing of private residences at the time of sale or transfer.

S700 - Sponsor Memo

S700 - Bill Text download pdf

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

                                   700

                       2011-2012 Regular Sessions

                            I N  S E N A T E

                               (PREFILED)

                             January 5, 2011
                               ___________

Introduced  by  Sen.  SALAND -- 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  requiring  a
  disclosure statement with regards to water testing

  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.  REQUIRED  DISCLOSURE  OF  WATER  TESTING.  1.  EXCEPT AS IS
PROVIDED IN SECTION FOUR HUNDRED  SIXTY-THREE  OF  THIS  ARTICLE,  EVERY
SELLER  OF  RESIDENTIAL REAL PROPERTY PURSUANT TO A REAL ESTATE PURCHASE
CONTRACT SHALL COMPLETE AND SIGN A DISCLOSURE STATEMENT WITH REGARDS  TO
WATER TESTING 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 DISCLOSURE STATEMENT CONTAINING THE SIGNATURES OF BOTH  SELLER  AND
BUYER  SHALL  BE ATTACHED TO THE REAL ESTATE PURCHASE CONTRACT.  FAILURE
TO MAKE SUCH DISCLOSURE SHALL SUBJECT THE SELLER  TO  CONSEQUENTIAL  AND
INCIDENTAL  DAMAGES.  IN  ADDITION,  THE  BUYER MAY SEEK RECISION OF THE
CONTRACT AND THE RETURN OF ALL SUMS PAID TO  THE  SELLER.  NO  AGENT  OF
EITHER  THE  BUYER OR THE SELLER TO A REAL ESTATE TRANSACTION SUBJECT TO
THIS SECTION SHALL BE LIABLE FOR A FAILURE TO DISCLOSE  AS  REQUIRED  BY
THIS SUBDIVISION UNLESS SUCH AGENT HAS ACTUAL KNOWLEDGE.
  2. THE FOLLOWING SHALL BE THE WATER TEST DISCLOSURE FORM:

                     WATER TEST DISCLOSURE STATEMENT

NAME OF SELLER OR SELLERS:

PROPERTY ADDRESS:

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

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