New York Real Estate Law

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Warranty Deed from two Individuals to Husband and Wife - New York

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Letter from Tenant to Landlord containing Notice of wrongful deductions from security deposit and demand for return - New York

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Commonly Asked Questions about New York Real Estate Law

What is the 12 A of the NYS real property law?

Article 12-A - Real Estate Brokers and Real Estate Salespersons. 440-A - License Required for Real Estate Brokers and Salespersons. This media-neutral citation is based on the American Association of Law Libraries Universal Citation Guide and is not necessarily the official citation.

What is New York real property law 465?

Any seller who provides a property condition disclosure statement or provides or fails to provide a revised property condition disclosure statement shall be liable only for a willful failure to perform the requirements of this article.

What are the rights of property owners in New York state?

Right to use and quiet enjoyment. Right to allow others a right to use (licenses and leases) Right to privacy and to exclude others. Right to disposition or to transfer the property to someone else by selling, gifting or inheritance.

What is the new real estate law in NY?

Effective March 20, 2024, the amended New York Real Property Law Chapter 50, Article 14 (the Property Condition Disclosure Act) will compel all sellers of residential property to complete and deliver a Property Condition Disclosure Statement (PCDS) to a buyer prior to signing a contract of sale.

How long are you liable after selling a house in New York?

This window of time is the statute of limitations. Depending on the type of case and claim, the statute of limitations in New York State for real estate transactions typically ranges from one year to six years or even 10 years in some cases.

What is NY Real Property Law 461?

Residential real property means real property improved by a one to four family dwelling used or occupied, or intended to be used or occupied, wholly or partly, as the home or residence of one or more persons, but shall not refer to (a) unimproved real property upon which such dwellings are to be constructed, or (b)

What is Section 467 of the New York State real property Tax Law?

(a) Real property owned by one or more persons, each of whom is sixty-five years of age or over, or real property owned by husband and wife or by siblings, one of whom is sixty-five years of age or over, or real property owned by one or more persons, some of whom qualify under this section and the others of whom

What new changes are coming in March 2024 in NYS in regards to the property condition disclosure statement?

Amended PCDS Required If the seller has already provided the PCDS to the buyer and the buyer has not signed the PCDS prior to March 20, 2024, the amended PCDS is required. If the seller has not provided the PCDS and a binding contract of sale is entered into on or after March 20, 2024, the amended PCDS is required.