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NY A05880

Bill

Official Source

Status

Introduced

2/20/2019

Primary Sponsor

Walter Mosley

Click for details

Origin

Assembly

2019-2020 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 unit in a one- to four-family dwelling must be occupied by the equity seller as their primary residence at the time of sale
  • Broadens 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

1/8/2020

Committee Referrals

Banks2/20/2019

Full Bill Text

No bill text available