senate Bill S3148A

2015-2016 Legislative Session

Relates to ground leases

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Senate Committee Judiciary 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 (4)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jan 06, 2016 referred to judiciary
May 12, 2015 print number 3148a
May 12, 2015 amend and recommit to judiciary
Feb 02, 2015 referred to judiciary

Co-Sponsors

S3148 - Details

See Assembly Version of this Bill:
A3391
Current Committee:
Senate Judiciary
Law Section:
Real Property Law
Laws Affected:
Add §220-a, RP L
Versions Introduced in Other Legislative Sessions:
2013-2014: S5245, A7269
2017-2018: S5219, A353
2019-2020: S3987, A215

S3148 - Summary

Relates to ground leases.

S3148 - Sponsor Memo

S3148 - Bill Text download pdf

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

                                  3148

                       2015-2016 Regular Sessions

                            I N  S E N A T E

                            February 2, 2015
                               ___________

Introduced  by Sen. STAVISKY -- 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 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

S3148A (ACTIVE) - Details

See Assembly Version of this Bill:
A3391
Current Committee:
Senate Judiciary
Law Section:
Real Property Law
Laws Affected:
Add §220-a, RP L
Versions Introduced in Other Legislative Sessions:
2013-2014: S5245, A7269
2017-2018: S5219, A353
2019-2020: S3987, A215

S3148A (ACTIVE) - Summary

Relates to ground leases.

S3148A (ACTIVE) - Sponsor Memo

S3148A (ACTIVE) - Bill Text download pdf

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

                                 3148--A

                       2015-2016 Regular Sessions

                            I N  S E N A T E

                            February 2, 2015
                               ___________

Introduced by Sens. STAVISKY, SAMPSON -- read twice and ordered printed,
  and  when  printed  to  be  committed to the Committee on Judiciary --
  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. 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.
                                                           LBD05230-03-5

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