NY S07541

Requires condominium and cooperative housing property management companies or boards of managers to provide buyers with the most recent inspection reports, engineering reports, and permits when entering a purchase contract

Mandates that floor plans, inspections, engineering reports, permits, declarations, by-laws, and rules be kept on file and made available digitally and physically to unit owners whenever any revisions or new reports are issued

Allows potential buyers to request copies of the most recent inspection or engineering reports from the property management company or board of managers

Requires all inspection or engineering reports completed for condo or co-op structures to be filed with local municipal building departments, health departments, or code enforcement officials within 60 days

Authorizes the New York Attorney General to void offering plans for condominiums or cooperatives if the board of managers fails to comply with these disclosure requirements; takes effect 180 days after becoming law