* § 521. Ninety-day waiting period. 1. Notwithstanding any other
provision of law, on and after July first, two thousand twenty-five, it
shall be unlawful for a covered entity to purchase, acquire, or offer to
purchase or acquire any interest in a single-family residence or
two-family residence unless the single-family residence or two-family
residence has been listed for sale to the general public for at least
ninety days.

2. The ninety-day waiting period set forth in subdivision one of this
section shall restart if the seller changes the asking price for the
single-family residence or two-family residence, and a covered entity
shall be prohibited from purchasing, acquiring, or offering to purchase
or acquire any interest in the single-family residence or two-family
residence until it has been listed for sale to the general public at the
new asking price for at least an additional ninety days.

3. A covered entity that violates subdivision one or two of this
section may be subject to civil damages and penalties in an amount not
to exceed two hundred fifty thousand dollars.

4. (a) At the time an offer is made by a covered entity purchasing
such residence, such covered entity shall be required to submit to the
seller or anyone acting as an agent for such seller, a form that has
been signed by the covered entity purchaser, or an authorized agent
thereof, and notarized, stating that the purchaser is a covered entity.

(b) Within three days of submitting a form to a seller or seller's
agent pursuant to paragraph (a) of this subdivision, a covered entity
shall file such form with the department of law. The department of law
may issue regulations or guidance regarding the procedure for making
such filing.

(c) Any covered entity or covered entity's agent that violates this
subdivision may be subject to civil damages and penalties in an amount
not to exceed ten thousand dollars.

5. The following form shall be completed by a covered entity
purchasing a single-family residence or two-family residence:

"COMPLIANCE WITH REAL PROPERTY LAW ARTICLE 16

Pursuant to Article 16 of the New York State Real Property Law,
covered entities are required to wait at least 90 days after a
single-family residence or two-family residence has been listed for sale
to the general public to purchase, acquire, or offer to purchase or
acquire any interest in the single-family residence or two-family
residence. At the time an offer is made, the covered entity or its agent
is required to complete this form and submit it to the seller stating
that the purchaser is a covered entity. Within three days of submitting
the form to the seller, the covered entity or its agent is required to
file this form with the New York state office of the attorney general,
in accordance with any regulations or guidance that the attorney general
may issue with respect to such filing.

The buyer of this single-family residence or two-family residence is a
covered entity as defined in New York State Real Property Law § 520. The
buyer is subject to the statutory 90-day waiting period. Failure to
comply with the 90-day waiting period may result in civil fines and
penalties.

Any covered entity or covered entity's agent that does not complete
and submit this form as required by statute, or abide by the statutory
waiting period, may be liable for civil damages.
IDENTIFYING INFORMATION
BUYER OR BUYERS OF THIS RESIDENCE:
____________________________
Printed Name and Mailing Address
____________________________
Printed Name and Mailing Address
By signing this form, the buyer or its agent affirms that the statements
herein are true under the penalties of perjury.
SIGNATURE OF BUYER(S) OR ITS AGENT OF THIS SINGLE-FAMILY RESIDENCE OR
TWO-FAMILY RESIDENCE:
____________________________
Signature Date
____________________________
Signature Date
____________________________
SIGNATURE OF WITNESSES
____________________________
Signature Date
____________________________
Signature Date
____________________________
NOTARY ACKNOWLEDGEMENT
(insert notary acknowledgement for this form here)"

* NB Effective September 6, 2025