Senate Bill S5553

2021-2022 Legislative Session

Relates to the definition of residence and residential real property

download bill text pdf

Sponsored By

Archive: Last 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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2021-S5553 (ACTIVE) - Details

Current Committee:
Senate Judiciary
Law Section:
Real Property Law
Laws Affected:
Amd §265-a, RP L
Versions Introduced in Other Legislative Sessions:
2017-2018: S6131
2019-2020: S5371
2023-2024: S2435

2021-S5553 (ACTIVE) - Summary

Relates to the definition of residence and residential real property.

2021-S5553 (ACTIVE) - Sponsor Memo

2021-S5553 (ACTIVE) - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   5553
 
                        2021-2022 Regular Sessions
 
                             I N  S E N A T E
 
                              March 10, 2021
                                ___________
 
 Introduced  by  Sen.  COMRIE -- 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 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.
                                                            LBD10113-01-1

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