NY A01452

Prohibits foreign governments, entities, and individuals from countries identified by the U.S. Department of State as "foreign countries of particular concern" or "entities of particular concern" from acquiring real property in New York State

Bars companies headquartered in, controlled by, or majority-owned by governments, entities, or citizens of designated foreign countries of particular concern from purchasing real property

Requires any prohibited foreign owners holding property at the time of enactment to transfer or dispose of their real property only to persons or entities eligible to own property under New York law

Preserves existing rights for U.S. citizens and non-prohibited noncitizens to hold, transmit, and dispose of real property, as well as non-prohibited foreign governments to maintain diplomatic and consular offices

Takes effect immediately upon passage