|Assembly Actions - Lowercase
Senate Actions - UPPERCASE
|Jan 06, 2016||referred to judiciary|
|Mar 20, 2015||referred to judiciary|
senate Bill S4435
Archive: Last Bill Status - In Senate Committee Judiciary Committee
- In Committee
- On Floor Calendar
- Passed Senate
- Passed Assembly
- Delivered to Governor
- Signed/Vetoed by Governor
S4435 (ACTIVE) - Details
S4435 (ACTIVE) - Summary
Sets up rules and regulations for the operation of lease-hold retirement communities to provide adequate housing for senior citizens wishing to retire and locate in a lease-hold retirement community; grants owners of homes in lease-hold retirement communities the right to sell their homes by methods common to sales of residential property; requires that owners of lease-hold retirement communities offer owners of homes the option to sign a long-term ninety-nine year lease.
S4435 (ACTIVE) - Sponsor Memo
BILL NUMBER:S4435 TITLE OF BILL: An act to amend the real property law, in relation to lease-hold retirement communities PURPOSE: This legislation would provide protections to retired persons who purchase homes in communities where the real property is leased. SUMMARY OF PROVISIONS: The bill would: 1. Call for 99 year leases 2. Require rules and regulations to be given to prospective buyers and attached to lease 3. A presumption that rules and regulations not uniformly enforced are arbitrary and capricious 4. Rules and regulations cannot be changed without the consent of 60% the homeowners
S4435 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ S. 4435 A. 6268 2015-2016 Regular Sessions S E N A T E - A S S E M B L Y March 20, 2015 ___________ IN SENATE -- Introduced by Sen. LAVALLE -- read twice and ordered print- ed, and when printed to be committed to the Committee on Judiciary IN ASSEMBLY -- Introduced by M. of A. THIELE -- read once and referred to the Committee on Aging AN ACT to amend the real property law, in relation to lease-hold retire- ment communities 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 238-a to read as follows: S 238-A. LEASE-HOLD RETIREMENT COMMUNITY. 1. DEFINITIONS. AS USED IN THIS SECTION: (A) A "LEASE-HOLD RETIREMENT COMMUNITY" SHALL MEAN A CONTIGUOUS PARCEL OF PRIVATELY OWNED REAL PROPERTY CONTAINING TWO HUNDRED OR MORE LOTS WHICH ARE LEASED TO OWNERS OF YEAR-ROUND HOMES ERECTED THEREON AND AFFIXED THERETO WHEREIN THE OCCUPATION IS RESTRICTED TO INDIVIDUALS BASED ON AGE PURSUANT TO PARAGRAPH (H) OF SUBDIVISION THREE OF THIS SECTION. A "LEASE-HOLD RETIREMENT COMMUNITY" SHALL NOT INCLUDE A MOBILE HOME PARK, OR CONDOMINIUM, AS DEFINED IN THIS CHAPTER OR REAL PROPERTY OWNED BY A CORPORATION FORMED PURSUANT TO THE COOPERATIVE CORPORATIONS LAW. (B) "HOME OWNER" SHALL MEAN ONE WHO HOLDS TITLE TO A HOME. (C) "TENANT" SHALL MEAN ONE WHO OCCUPIES A HOME IN A LEASE-HOLD RETIREMENT COMMUNITY FOR THIRTY DAYS OR MORE, AND WHOSE OCCUPATION OF THE HOME IN THE LEASE-HOLD RETIREMENT COMMUNITY IS KNOWN TO THE LEASE-HOLD RETIREMENT COMMUNITY OWNER OR OPERATOR. 2. LEASES. (A) ANY LEASE-HOLD RETIREMENT COMMUNITY OWNER OR OPERATOR SHALL OFFER EVERY HOME OWNER THE OPPORTUNITY TO SIGN A LONG TERM LEASE FOR NINETY-NINE YEARS, WITH AN OPTION OF THE HOME OWNER TO CANCEL SAID LEASE ON NINETY DAYS WRITTEN NOTICE TO SAID OWNER OR OPERATOR. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD08157-01-5
Open Legislation comments facilitate discussion of New York State legislation. All comments are subject to moderation. Comments deemed off-topic, commercial, campaign-related, self-promotional; or that contain profanity or hate speech; or that link to sites outside of the nysenate.gov domain are not permitted, and will not be published. Comment moderation is generally performed Monday through Friday.
By contributing or voting you agree to the Terms of Participation and verify you are over 13.