Bill Text: NY A10618 | 2019-2020 | General Assembly | Introduced
Bill Title: 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.
Spectrum: Strong Partisan Bill (Republican 10-1)
Status: (Introduced - Dead) 2020-06-10 - referred to judiciary [A10618 Detail]
Download: New_York-2019-A10618-Introduced.html
STATE OF NEW YORK ________________________________________________________________________ 10618 IN ASSEMBLY June 10, 2020 ___________ Introduced by COMMITTEE ON RULES -- (at request of M. of A. Montesano) -- 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: 1 Section 1. The real property law is amended by adding a new section 2 333-d to read as follows: 3 § 333-d. Property located near a superfund site; disclosure. 1. When 4 any purchase and sales contract is presented for the sale, purchase, or 5 exchange of real property located within one half mile of an area desig- 6 nated as a superfund site pursuant to either Chapter 103 of Section 42 7 of the United States Code and/or section 27-1303 of the environmental 8 conservation law, the prospective grantor shall present to the prospec- 9 tive grantee a disclosure notice stating whether the subject property is 10 located within a half mile of a superfund site. 11 2. Such disclosure notice shall be signed by the prospective grantor 12 and grantee prior to the signing by the grantee of a binding contract of 13 purchase or exchange. A copy of such disclosure notice containing 14 signatures of both the grantor and grantee shall be attached to the real 15 estate purchase or exchange contract. 16 3. Failure of the seller to provide such information to the buyer 17 shall not prevent the recording officer from filing such deed. 18 § 2. This act shall take effect immediately. EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD16571-02-0