Bill Text: NY S00662 | 2023-2024 | General Assembly | Introduced

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Bill Title: Requires certain information to be provided on a real property transfer form; requires limited liability companies to provide certain information when purchasing real property.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced) 2024-01-03 - REFERRED TO JUDICIARY [S00662 Detail]

Download: New_York-2023-S00662-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________

                                           662

                               2023-2024 Regular Sessions

                    IN SENATE

                                     January 5, 2023
                                       ___________

        Introduced  by Sen. KAVANAGH -- 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 clarifying  infor-
          mation collected on a real property transfer form

          The  People of the State of New York, represented in Senate and Assem-
        bly, do enact as follows:

     1    Section 1. Subparagraphs 7 and 8 of paragraph ii of subdivision 1-e of
     2  section 333 of the real property law, as amended by section 1 of part  B
     3  of chapter 57 of the laws of 2004, are amended and two new subparagraphs
     4  9 and 10 are added to read as follows:
     5    (7)  in the event the parcel conveyed by such deed is a portion of the
     6  parcel owned by the transferor or transferors,  a  statement  indicating
     7  whether the city, town or village in which such property is situated has
     8  a  planning  board  or  other  entity empowered to approve subdivisions;
     9  [and]
    10    (8) in the event such planning board or other entity is  empowered  to
    11  approve subdivisions, a statement indicating whether the parcel conveyed
    12  by such deed is (a) not subject to such subdivision approval or (b) such
    13  subdivision  has  been  approved by the respective city, town or village
    14  planning board or other entity empowered to approve subdivisions[.];
    15    (9) in the event that the purchaser is (a) an  individual,  a  limited
    16  liability  company,  society,  association,  joint stock company, corpo-
    17  ration, estate, receiver,  trustee,  assignee,  referee,  or  any  other
    18  person  acting  in  a  fiduciary  capacity,  and  (b) the property being
    19  purchased is located in this state, the name and place  of  business  of
    20  the  company,  society,  association,  joint stock company, corporation,
    21  estate, receiver, trustee, assignee, referee, or any other person acting
    22  in a fiduciary capacity, the name of a  responsible  party  who  has  an
    23  interest  in  the  company,  society,  association, joint stock company,
    24  corporation, estate, receiver, trustee, assignee, referee, or any  other
    25  person  acting  in  a  fiduciary capacity, and a phone number where such

         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD02993-01-3
        S. 662                              2

     1  responsible party may be contacted. Any person supplying  such  informa-
     2  tion  must  use  his or her legal name.  Such information must be either
     3  typed or clearly printed. In the event a person erroneously typed or did
     4  not  clearly  print his or her legal name, the county clerk may charge a
     5  convenience fee of twenty dollars to amend the transfer report; and
     6    (10) a sworn affidavit, subscribed to by the purchaser,  stating  that
     7  the  information provided pursuant to this paragraph is true to the best
     8  knowledge of the affiant.
     9    § 2. This act shall take effect on the one hundred eightieth day after
    10  it shall have become a law.  Effective immediately, the addition, amend-
    11  ment and/or repeal of any rule or regulation necessary for the implemen-
    12  tation of this act on its effective date are authorized to be  made  and
    13  completed on or before such effective date.