New York § 474 Liability for violation

New York Statutes

§ 474 — Liability for violation

New York § 474

Law RPPReal Property

Art. 15Prohibition and Disclosure of Private Transfer Fee Obligations

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Bluebook

N.Y. Real Property § 474 (2026).

Text

  § 474. Liability for violation. Any person who records or enters into\nan agreement imposing a private transfer fee obligation in their favor\nor in the favor of a third party after the effective date of this\nsection shall be liable for (1) any and all damages resulting from the\nimposition of the transfer fee obligation on the transfer of an interest\nin the real property, including, without limitation, the amount of any\ntransfer fee paid by a party to the transfer, and (2) all attorneys'\nfees, expenses and costs incurred by a party to the transfer or\nmortgagee of the real property to recover any transfer fee paid or in\nconnection with an action to quiet title. Where an agent acts on behalf\nof a principal to record or secure a private transfer fee obligation,\nliability shall be a

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§ 474. Liability for violation. Any person who records or enters into\nan agreement imposing a private transfer fee obligation in their favor\nor in the favor of a third party after the effective date of this\nsection shall be liable for (1) any and all damages resulting from the\nimposition of the transfer fee obligation on the transfer of an interest\nin the real property, including, without limitation, the amount of any\ntransfer fee paid by a party to the transfer, and (2) all attorneys'\nfees, expenses and costs incurred by a party to the transfer or\nmortgagee of the real property to recover any transfer fee paid or in\nconnection with an action to quiet title. Where an agent acts on behalf\nof a principal to record or secure a private transfer fee obligation,\nliability shall be assessed to the principal, rather than the agent.\n