assembly Bill A3391A

2015-2016 Legislative Session

Relates to ground leases

download bill text pdf

Sponsored By

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 (12)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Mar 01, 2016 referred to judiciary
delivered to senate
passed assembly
Feb 26, 2016 advanced to third reading cal.393
Feb 25, 2016 reported
Feb 02, 2016 reported referred to codes
Jan 06, 2016 referred to housing
May 06, 2015 amended on third reading 3391a
Mar 27, 2015 advanced to third reading cal.139
Mar 24, 2015 reported
Mar 03, 2015 reported referred to codes
Jan 22, 2015 referred to housing

A3391 - Details

See Senate Version of this Bill:
S3148
Current Committee:
Senate Judiciary
Law Section:
Real Property Law
Laws Affected:
Add §220-a, RP L
Versions Introduced in Other Legislative Sessions:
2013-2014: A7269, S5245
2017-2018: A353, S5219
2019-2020: A215, S3987

A3391 - Summary

Relates to ground leases.

A3391 - Bill Text download pdf

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

                                  3391

                       2015-2016 Regular Sessions

                          I N  A S S E M B L Y

                            January 22, 2015
                               ___________

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  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.
  (C)  ANY  GROUND LEASE PROVISION THAT LIMITS THE AMOUNT A LESSEE COULD
ENCUMBER ITS INTEREST, UP TO AND INCLUDING ITS ENTIRE INTEREST  IN  SUCH

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD05230-01-5

Co-Sponsors

A3391A (ACTIVE) - Details

See Senate Version of this Bill:
S3148
Current Committee:
Senate Judiciary
Law Section:
Real Property Law
Laws Affected:
Add §220-a, RP L
Versions Introduced in Other Legislative Sessions:
2013-2014: A7269, S5245
2017-2018: A353, S5219
2019-2020: A215, S3987

A3391A (ACTIVE) - Summary

Relates to ground leases.

A3391A (ACTIVE) - Bill Text download pdf

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

                                 3391--A
                                                        Cal. No. 139

                       2015-2016 Regular Sessions

                          I N  A S S E M B L Y

                            January 22, 2015
                               ___________

Introduced  by  M.  of  A.  BRAUNSTEIN  -- read once and referred to the
  Committee on Housing -- reported and  referred  to  the  Committee  on
  Codes  --  advanced to a third reading, amended and ordered reprinted,
  retaining its place on the order of third reading

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. RESIDENTIAL GROUND LEASES.  1. DEFINITIONS. FOR THE  PURPOSES
OF THIS SECTION ONLY, A "RESIDENTIAL 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  THAT INCLUDE ONE OR MORE
RESIDENTIAL DWELLINGS UPON SUCH REAL PROPERTY.
  2. REFINANCING. (A) IF ANY RESIDENTIAL GROUND LEASE DOES  NOT  CONTAIN
EXPRESS PROVISIONS PROHIBITING A LESSEE FROM ENCUMBERING ITS INTEREST IN
A  RESIDENTIAL  GROUND  LEASE, A LESSEE MAY ENCUMBER UP TO AND INCLUDING
ITS ENTIRE INTEREST IN SUCH RESIDENTIAL GROUND LEASE. IF  SUCH  RESIDEN-
TIAL  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-

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

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