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NY A09339

Bill

Official Source

Status

Introduced

2/23/2016

Primary Sponsor

Walter Mosley

Click for details

Origin

Assembly

2015-2016 General Assembly

AI Summary

  • Amends the definition of "residence" and "residential real property" in Real Property Law Section 265-a
  • Removes the requirement that one of the dwelling units in a one- to four-family property must be occupied by the equity seller as their primary residence immediately prior to an equity sale
  • Expands the definition to apply to any one- to four-family dwelling units regardless of occupancy status
  • Takes effect immediately upon enactment

Legislative Description

Relates to the definition of residence and residential real property.

Last Action

referred to banks

2/23/2016

Committee Referrals

Banks2/23/2016

Full Bill Text

No bill text available