Assembly Bill A5880

2019-2020 Legislative Session

Relates to the definition of residence and residential real property

download bill text pdf

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Archive: Last Bill Status - In Assembly 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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2019-A5880 (ACTIVE) - Details

See Senate Version of this Bill:
S5371
Current Committee:
Assembly Banks
Law Section:
Real Property Law
Laws Affected:
Amd §265-a, RP L
Versions Introduced in Other Legislative Sessions:
2015-2016: A9339
2017-2018: A1688, S6131
2021-2022: S5553
2023-2024: S2435

2019-A5880 (ACTIVE) - Summary

Relates to the definition of residence and residential real property.

2019-A5880 (ACTIVE) - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   5880
 
                        2019-2020 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             February 20, 2019
                                ___________
 
 Introduced by M. of A. MOSLEY -- read once and referred to the Committee
   on Banks
 
 AN  ACT to amend the real property law, in relation to the definition of
   residence and residential real property
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:

   Section 1. Paragraph (k) of subdivision 2 of section 265-a of the real
 property law, as added by chapter 308 of the laws of 2006, is amended to
 read as follows:
   (k) "Residence" and "residential real property" means residential real
 property consisting of one- to four-family dwelling units[, one of which
 the  equity  seller  occupies or occupied at a time immediately prior to
 the equity sale as his or her primary residence].
   § 2. This act shall take effect immediately.
 
 
 
 
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD05791-01-9

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