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.
STATE OF NEW YORK
________________________________________________________________________
10618
IN ASSEMBLY
June 10, 2020
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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
