§ 242 — Disclosure prior to the sale of real property

New York § 242

• Jurisdiction: New York
• Law RPP: Real Property
• Art. 8: Conveyances and Mortgages

Text

§ 242. Disclosure prior to the sale of real property. 1. (a) Any\nperson, firm, company, partnership or corporation offering to sell real\nproperty to which no utility electric service is provided shall provide\nwritten notice to the prospective purchaser or to the prospective\npurchaser's agent, clearly indicating this fact. Such notice shall be\nprovided prior to accepting a purchase offer.\n (b) Any prospective or actual purchaser who has suffered a loss due to\na violation of this section is entitled to recover any actual damages\nincurred from the person offering to sell said real property.\n (c) The provisions of this subdivision shall not apply in instances\nwhere the real property being sold lies within the applicable free\nfootage allowance or service lateral specified by the public service\ncommission in rule, regulation or public utility tariff.\n 2. Disclosure prior to the sale of real property to which utility\nsurcharge payments attach. (a) Any person, firm, company, partnership or\ncorporation offering to sell real property against which an electric,\ngas or water utility surcharge is assessed for the purpose of defraying\nthe costs associated with an electric, gas or water line extension, or\nfor the purpose of defraying the costs associated with related\nfacilities, shall provide written notice to the prospective purchaser or\nthe prospective purchaser's agent, stating as follows: "This property is\nsubject to an electric, gas and/or water utility surcharge". In\naddition, such notice shall also state, the type and purpose of the\nsurcharge, the amount of the surcharge and whether such surcharge is\npayable on a monthly, yearly or other basis. Such notice shall be\nprovided by the seller prior to accepting a purchase offer.\n (b) Any prospective or actual purchaser who has suffered a loss due to\na violation of this subdivision is entitled to recover any actual\ndamages incurred from the person offering to sell or selling said real\nproperty.\n 3. Any person, firm, company, partnership or corporation offering to\nsell real property on which uncapped natural gas wells are situated, and\nof which such person, firm, company, partnership or corporation has\nactual knowledge, shall inform any purchaser of the existence of these\nwells prior to entering into a contract for the sale/purchase of such\nproperty.\n 4. Disclosure prior to the sale of real property to which a green\njobs-green New York on-bill recovery charge applies. (a) Any person,\nfirm, company, partnership or corporation offering to sell real property\nwhich is subject to a green jobs-green New York on-bill recovery charge\npursuant to title nine-A of article eight of the public authorities law\nshall provide written notice to the prospective purchaser or the\nprospective purchaser's agent, stating as follows: "This property is\nsubject to a green jobs-green New York on-bill recovery charge". Such\nnotice shall also state the total amount of the original charge, the\npayment schedule and the approximate remaining balance, a description of\nthe energy efficiency services performed, including improvements to the\nproperty, and an explanation of the benefit of the green jobs-green New\nYork qualified energy efficiency services. Such notice shall be provided\nby the seller prior to accepting a purchase offer.\n (b) Any prospective or actual purchaser who has suffered a loss due to\na violation of this subdivision is entitled to recover any actual\ndamages incurred from the person offering to sell or selling said real\nproperty.\n