Requires certain information to be provided on a real property transfer form; requires limited liability companies to provide certain information when purchasing real property.
STATE OF NEW YORK
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7123
IN SENATE(Prefiled)
January 3, 2018
___________
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
26 responsible party may be contacted. Any person supplying such informa-
27 tion must use his or her legal name. Such information must be either
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD01567-01-7
S. 7123 2
1 typed or clearly printed. In the event a person erroneously typed or did
2 not clearly print his or her legal name, the county clerk may charge a
3 convenience fee of twenty dollars to amend the transfer report; and
4 (10) a sworn affidavit, subscribed to by the purchaser, stating that
5 the information provided pursuant to this paragraph is true to the best
6 knowledge of the affiant.
7 § 2. This act shall take effect on the one hundred eightieth day after
8 it shall have become a law. Effective immediately the office of real
9 property services may amend, add, or repeal any rule or regulation
10 necessary for the timely implementation of this act on its effective
11 date.
