assembly Bill A7269A

2013-2014 Legislative Session

Relates to ground leases

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Archive: Last Bill Status - Passed Assembly


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

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Actions

view actions (17)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Feb 12, 2014 referred to judiciary
delivered to senate
passed assembly
Jan 08, 2014 ordered to third reading cal.348
returned to assembly
died in senate
Jun 18, 2013 referred to rules
delivered to senate
passed assembly
Jun 17, 2013 ordered to third reading rules cal.348
rules report cal.348
reported
Jun 10, 2013 reported referred to rules
Jun 04, 2013 print number 7269a
Jun 04, 2013 amend and recommit to codes
May 13, 2013 reported referred to codes
May 08, 2013 referred to housing

A7269 - Details

See Senate Version of this Bill:
S5245
Current Committee:
Senate Judiciary
Law Section:
Real Property Law
Laws Affected:
Add §220-a, RP L
Versions Introduced in Other Legislative Sessions:
2015-2016: A3391, S3148
2017-2018: A353, S5219
2019-2020: A215, S3987

A7269 - Summary

Relates to ground leases.

A7269 - Bill Text download pdf

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

                                  7269

                       2013-2014 Regular Sessions

                          I N  A S S E M B L Y

                               May 8, 2013
                               ___________

Introduced  by  M.  of  A.  BRAUNSTEIN  -- read once and referred to the
  Committee on Housing

AN ACT to amend the real property law, in relation to ground leases

  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
220-a to read as follows:
  S 220-A. GROUND LEASES. 1.  DEFINITIONS.  FOR  THE  PURPOSES  OF  THIS
SECTION A "GROUND LEASE" SHALL BE DEFINED AS A RENTAL AGREEMENT THAT:
  (A) HAS A TERM OF AT LEAST TEN YEARS;
  (B)  IS FOR THE USE OF REAL PROPERTY, WHICH MAY OR MAY NOT INCLUDE ANY
IMPROVEMENTS OR STRUCTURES; AND
  (C) ALLOWS A TENANT TO CONSTRUCT OR SUBSTANTIALLY  IMPROVE,  RENOVATE,
OR REHABILITATE STRUCTURES OR IMPROVEMENTS UPON SUCH REAL PROPERTY.
  2.  REFINANCING.  (A)  IF  ANY  GROUND  LEASE DOES NOT CONTAIN EXPRESS
PROVISIONS PROHIBITING A LESSEE  FROM  ENCUMBERING  ITS  INTEREST  IN  A
GROUND  LEASE,  A  LESSEE  MAY  ENCUMBER  UP TO AND INCLUDING ITS ENTIRE
INTEREST IN SUCH GROUND LEASE. IF SUCH GROUND LEASE CONTAINS  PROVISIONS
RESTRICTING  THE  LESSEE'S  ABILITY TO ENCUMBER ITS INTEREST, THE LESSEE
MUST OBTAIN THE LESSOR'S WRITTEN PERMISSION PRIOR TO SUCH ENCUMBRANCE.
  (B) IF THE LESSEE IS REQUIRED TO OBTAIN  THE  LESSOR'S  PERMISSION  TO
ENCUMBER THE LESSEE'S INTEREST, THE LESSOR MAY ONLY REFUSE TO GRANT SUCH
PERMISSION FOR REASONABLE CAUSE AND MUST PROVIDE THE LESSEE WITH A WRIT-
TEN  STATEMENT  THAT SETS FORTH THE BASIS FOR THE REFUSAL WITHIN FIFTEEN
DAYS OF A WRITTEN REQUEST FOR PERMISSION FROM THE LESSEE.
  (C) ANY GROUND LEASE PROVISION THAT LIMITS THE AMOUNT A  LESSEE  COULD
ENCUMBER  ITS  INTEREST, UP TO AND INCLUDING ITS ENTIRE INTEREST IN SUCH
GROUND LEASE, SHALL ALSO ADJUST SUCH AMOUNT ANNUALLY ON THE FIRST DAY OF
OCTOBER OF EACH YEAR BY THE CHANGE IN THE REGIONAL CONSUMER PRICE  INDEX
FOR  ALL  URBAN  CONSUMERS,  NEW  YORK-NORTHERN  NEW JERSEY-LONG ISLAND,
NY-NJ-CT-PA, AS ESTABLISHED THE PRECEDING AUGUST.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD10836-01-3

A7269A (ACTIVE) - Details

See Senate Version of this Bill:
S5245
Current Committee:
Senate Judiciary
Law Section:
Real Property Law
Laws Affected:
Add §220-a, RP L
Versions Introduced in Other Legislative Sessions:
2015-2016: A3391, S3148
2017-2018: A353, S5219
2019-2020: A215, S3987

A7269A (ACTIVE) - Summary

Relates to ground leases.

A7269A (ACTIVE) - Bill Text download pdf

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

                                 7269--A

                       2013-2014 Regular Sessions

                          I N  A S S E M B L Y

                               May 8, 2013
                               ___________

Introduced  by  M.  of  A.  BRAUNSTEIN  -- read once and referred to the
  Committee on Housing -- reported and  referred  to  the  Committee  on
  Codes  --  committee  discharged,  bill  amended, ordered reprinted as
  amended and recommitted to said committee

AN ACT to amend the real property law, in relation to ground leases

  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
220-a to read as follows:
  S 220-A. GROUND LEASES. 1.  DEFINITIONS.  FOR  THE  PURPOSES  OF  THIS
SECTION  ONLY,  A  "GROUND LEASE" SHALL BE DEFINED AS A RENTAL AGREEMENT
THAT:
  (A) HAS A TERM OF AT LEAST TEN YEARS;
  (B) IS FOR THE USE OF REAL PROPERTY, WHICH MAY OR MAY NOT INCLUDE  ANY
IMPROVEMENTS  OR  STRUCTURES, BUT SHALL NOT APPLY TO REAL PROPERTY OWNED
AS THE COMMON PROPERTY OF ANY INDIAN NATION,  TRIBE,  OR  BAND  AS  SUCH
LANDS ARE DESCRIBED UNDER AND PROTECTED BY INDIAN LAW AND/OR TITLE 25 OF
THE UNITED STATES CODE; AND
  (C)  ALLOWS  A TENANT TO CONSTRUCT OR SUBSTANTIALLY IMPROVE, RENOVATE,
OR REHABILITATE STRUCTURES OR IMPROVEMENTS UPON SUCH REAL PROPERTY.
  2. REFINANCING. (A) IF ANY  GROUND  LEASE  DOES  NOT  CONTAIN  EXPRESS
PROVISIONS  PROHIBITING  A  LESSEE  FROM  ENCUMBERING  ITS INTEREST IN A
GROUND LEASE, A LESSEE MAY ENCUMBER  UP  TO  AND  INCLUDING  ITS  ENTIRE
INTEREST  IN SUCH GROUND LEASE. IF SUCH GROUND LEASE CONTAINS PROVISIONS
RESTRICTING THE LESSEE'S ABILITY TO ENCUMBER ITS  INTEREST,  THE  LESSEE
MUST OBTAIN THE LESSOR'S WRITTEN PERMISSION PRIOR TO SUCH ENCUMBRANCE.
  (B)  IF  THE  LESSEE  IS REQUIRED TO OBTAIN THE LESSOR'S PERMISSION TO
ENCUMBER THE LESSEE'S INTEREST, THE LESSOR MAY ONLY REFUSE TO GRANT SUCH
PERMISSION FOR REASONABLE CAUSE AND MUST PROVIDE THE LESSEE WITH A WRIT-
TEN STATEMENT THAT SETS FORTH THE BASIS FOR THE REFUSAL  WITHIN  FIFTEEN
DAYS OF A WRITTEN REQUEST FOR PERMISSION FROM THE LESSEE.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD10836-02-3

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