Assembly Bill A5112

2021-2022 Legislative Session

Requires sellers to disclose to purchasers whether property is located within a half mile of a superfund site

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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2021-A5112 (ACTIVE) - Details

Current Committee:
Assembly Judiciary
Law Section:
Real Property Law
Laws Affected:
Add §333-d, RP L
Versions Introduced in 2019-2020 Legislative Session:
A10618

2021-A5112 (ACTIVE) - Summary

Requires sellers to provide a written disclosure to purchasers stating whether property is located within a half mile of a superfund site and requires such notice to be signed by both the seller and the purchaser and attached to the contract of sale or exchange.

2021-A5112 (ACTIVE) - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   5112
 
                        2021-2022 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             February 11, 2021
                                ___________
 
 Introduced by M. of A. MONTESANO, ASHBY, STERN, J. M. GIGLIO, MORINELLO,
   McDONOUGH,  BYRNES,  HAWLEY,  TAGUE  --  read once and referred to the
   Committee on Judiciary
 
 AN ACT to amend the real property law, in relation to disclosure of real
   property located within a half mile of a superfund site

   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
 333-d to read as follows:
   § 333-D. PROPERTY LOCATED NEAR A SUPERFUND SITE; DISCLOSURE. 1.   WHEN
 ANY  PURCHASE AND SALES CONTRACT IS PRESENTED FOR THE SALE, PURCHASE, OR
 EXCHANGE OF REAL PROPERTY LOCATED WITHIN ONE HALF MILE OF AN AREA DESIG-
 NATED AS A SUPERFUND SITE PURSUANT TO EITHER CHAPTER 103 OF  SECTION  42
 OF  THE  UNITED  STATES CODE AND/OR SECTION 27-1303 OF THE ENVIRONMENTAL
 CONSERVATION LAW, THE PROSPECTIVE GRANTOR SHALL PRESENT TO THE  PROSPEC-
 TIVE GRANTEE A DISCLOSURE NOTICE STATING WHETHER THE SUBJECT PROPERTY IS
 LOCATED WITHIN A HALF MILE OF A SUPERFUND SITE.
   2.  SUCH  DISCLOSURE NOTICE SHALL BE SIGNED BY THE PROSPECTIVE GRANTOR
 AND GRANTEE PRIOR TO THE SIGNING BY THE GRANTEE OF A BINDING CONTRACT OF
 PURCHASE OR EXCHANGE.   A COPY  OF  SUCH  DISCLOSURE  NOTICE  CONTAINING
 SIGNATURES OF BOTH THE GRANTOR AND GRANTEE SHALL BE ATTACHED TO THE REAL
 ESTATE PURCHASE OR EXCHANGE CONTRACT.
   3.  FAILURE  OF  THE  SELLER  TO PROVIDE SUCH INFORMATION TO THE BUYER
 SHALL NOT PREVENT THE RECORDING OFFICER FROM FILING SUCH DEED.
   § 2. This act shall take effect immediately.
 
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD08634-01-1

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