New York Real Property Law Article 15 - PROHIBITION AND DISCLOSURE OF PRIVATE TRANSFER FEE OBLIGATIONS

• 470 - Short Title.
  This article shall be known and may be cited as the "private transfer fee obligation act."
• 471 - Intent.
  The legislature finds and declares that the public policy of this state favors the marketability of real property and the transferability of interests in real...
• 472 - Definitions.
  1. "Transfer" means the sale, gift, conveyance, assignment, inheritance, or other transfer of an ownership interest in real property located in this state. 2. "Private...
• 473 - Prohibition.
  A private transfer fee obligation recorded or entered into in this state on or after the effective date of this section does not run with...
• 474 - Liability for Violation.
  Any person who records or enters into an agreement imposing a private transfer fee obligation in their favor or in the favor of a third...
• 475 - Disclosure.
  Prior to the signing by the buyer of a binding contract for the sale of real property, the seller shall furnish to any purchaser a...
• 476 - Notice Requirements for Existing Transfer Fee Obligations.
  1. For a private transfer fee obligation imposed prior to the effective date of this section, the receiver of the fee shall record, prior to...

Last modified: February 3, 2019