Senate Bill S7343

2025-2026 Legislative Session

Defines lease-hold retirement community and proscribes rules and regulations for ownership and operation thereof

download bill text pdf

Sponsored By

Current Bill Status - In Senate Committee Judiciary Committee


  • Introduced
    • In Committee Assembly
    • In Committee Senate
    • On Floor Calendar Assembly
    • On Floor Calendar Senate
    • Passed Assembly
    • Passed Senate
  • Delivered to Governor
  • Signed By Governor

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2025-S7343 (ACTIVE) - Details

Current Committee:
Senate Judiciary
Law Section:
Real Property Law
Laws Affected:
Add §238-b, amd §233-b, RP L

2025-S7343 (ACTIVE) - Summary

Sets up rules and regulations for the operation of lease-hold retirement communities located in a county with a population of more than one million inhabitants that only borders one other county, 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.

2025-S7343 (ACTIVE) - Sponsor Memo

2025-S7343 (ACTIVE) - Bill Text download pdf

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   7343
 
                        2025-2026 Regular Sessions
 
                             I N  S E N A T E
 
                              April 10, 2025
                                ___________
 
 Introduced  by  Sen.  MURRAY -- 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 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-b to read as follows:
   § 238-B. 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 IN
 A COUNTY WITH A POPULATION OF MORE THAN  ONE  MILLION  INHABITANTS  THAT
 ONLY  BORDERS ONE OTHER COUNTY, 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  MANUFACTURED
 HOME PARK, OR CONDOMINIUM, AS DEFINED IN THIS CHAPTER, A CONTINUING CARE
 RETIREMENT  COMMUNITY  AUTHORIZED UNDER ARTICLE FORTY-SIX OR FORTY-SIX-A
 OF THE PUBLIC HEALTH LAW, OR A COOPERATIVE HOUSING CORPORATION.
   (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.
                                                            LBD11625-01-5
 S. 7343                             2
              

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