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NY A08337
Bill
Status
5/13/2025
Primary Sponsor
Linda Rosenthal
Click for details
AI Summary
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Requires condominium and cooperative boards of managers to provide buyers with the most recent inspection reports, engineering reports, and permits when entering a purchase contract
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Mandates that floor plans, inspections, engineering reports, permits, declarations, by-laws, and rules be kept on file and provided digitally and physically to unit owners whenever revisions or new reports are issued
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Grants potential buyers the right to request copies of the most recent inspection or engineering reports from the property management company or board of managers
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Requires all inspection and engineering reports completed for condo or co-op structures to be filed with local municipal building departments, health departments, or code enforcement within 60 days
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Authorizes the Attorney General to void offering plans for condominiums or cooperatives if the board of managers fails to comply with disclosure requirements; takes effect 180 days after becoming law
Legislative Description
Requires that when a buyer enters into a contract to purchase a condominium or cooperative housing unit, the property management company or board of managers shall provide the buyer with records of the most recent inspection and engineering reports and permits for the subject property.
Last Action
enacting clause stricken
6/16/2025