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Ny property condition disclosure act

New York Property Disclosure Statement 2025

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The document is a Property Condition Disclosure Statement required by New York State law for sellers of residential real property. It mandates that sellers provide detailed information about the property's condition to potential buyers before signing a sales contract. The statement includes sections on general property information, environmental concerns, structural integrity, and mechanical systems. It emphasizes that the disclosure is not a warranty and encourages buyers to conduct their own inspections. Sellers must certify the accuracy of the information provided.

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Click ‘Get Form’ to open the New York Property Disclosure Statement in our editor.
Begin by entering the seller's name and property address at the top of the form. This information is crucial for identifying the property in question.
Proceed to the General Information section. Answer questions regarding ownership duration, occupancy, and any existing leases or claims on the property. Use 'NA' for non-applicable items and 'Unknown' if unsure.
Move to the Environmental section. Here, indicate if the property is in a floodplain or wetland, and disclose any hazardous substances present. Be thorough as this impacts buyer decisions.
In the Structural section, detail any damage or infestations noted in your inspection. This includes roof conditions and known defects in structural systems.
Complete the Mechanical Systems section by providing information about water sources, sewage systems, and any known issues with utilities.
Finally, review all entries for accuracy before signing. Once completed, save your document directly from our platform for easy sharing with potential buyers.

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Versions	Form popularity	Fillable & printable
2017	4.8 Satisfied (115 Votes)
2015	4.4 Satisfied (60 Votes)
2006	4.4 Satisfied (397 Votes)

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What is a NYS disclosure form?

A disclosure document details a propertys condition and what might negatively affect its value. Sellers who willfully conceal information can be sued and potentially convicted of a crime.

What is the purpose of a property disclosure statement?

Property disclosure statements essentially outline any flaws that the home sellers (and their real estate agents) are aware of that could negatively affect the homes value. These statements are required by law in most areas of the country so buyers can know a propertys good and bad points before they close the deal.

What is a disclosure statement on a house?

(2) Each seller of residential real property located in Nebraska shall provide the purchaser with a written disclosure statement of the real propertys condition. The disclosure statement shall be executed by the seller.

What is the purpose of a disclosure document?

Purpose of the disclosure document The disclosure document is supposed to help potential franchisees make a reasonably informed decision about the franchise. The disclosure document must give useful and reliable information about the franchise.

Is a property disclosure statement required in NY?

General Instructions: The Property Condition Disclosure Act requires the seller of residential real property to cause this disclosure statement or a copy of thereof to be delivered to a buyer or buyers agent prior to the signing by the buyer of a binding contract of sale.

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What is the purpose of the disclosure statement?

The disclosure statement informs all parties of relevant details, risks, terms, conditions, or conflicts of interest that may affect their decision-making or involvement. The effectiveness of a disclosure statement depends on its clarity, completeness, and the accessibility of the information it contains.

What is a disclosure statement for a mortgage?

Disclosures are documents in which lenders are obligated to be completely transparent about all the terms of the mortgage agreement that they are offering you. The revised mortgage disclosures have combined four different forms into the TILA- RESPA Integrated Disclosure.

New York Property Disclosure Statement 2025

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