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S03676 Summary:

BILL NO	S03676
SAME AS	No Same As
SPONSOR	COMRIE
COSPNSR
MLTSPNSR
Amd §265-a, RP L
Relates to the definition of residence and residential real property.

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S03676 Actions:

BILL NO	S03676
01/29/2025	REFERRED TO JUDICIARY

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S03676 Text:

 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                          3676
 
                               2025-2026 Regular Sessions
 
                    IN SENATE
 
                                    January 29, 2025
                                       ___________
 
        Introduced  by  Sen.  COMRIE -- 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 the definition  of
          residence and residential real property
 
          The  People of the State of New York, represented in Senate and Assem-
        bly, do enact as follows:
 
     1    Section 1. Paragraph (k) of subdivision 2 of section 265-a of the real
     2  property law, as added by chapter 308 of the laws of 2006, is amended to
     3  read as follows:
     4    (k) "Residence" and "residential real property" means residential real
     5  property consisting of one- to four-family dwelling units[, one of which
     6  the equity seller occupies or occupied at a time  immediately  prior  to
     7  the equity sale as his or her primary residence].
     8    § 2. This act shall take effect immediately.
 
 
 
 
 
 
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD05218-01-5

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