A01967 Summary:
BILL NO | A01967 |
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SAME AS | SAME AS S05400 |
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SPONSOR | Carroll |
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COSPNSR | Dinowitz, Hyndman, Hevesi, Burdick, Kelles, Simon, De Los Santos, Seawright, Shimsky, Buttenschon, Pheffer Amato |
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MLTSPNSR | |
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Amd §§462 & 465, rpld §467, RP L | |
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Requires disclosure of information concerning flood insurance on property condition disclosure statements; relates to liability with respect to property disclosures. |
A01967 Actions:
BILL NO | A01967 | |||||||||||||||||||||||||||||||||||||||||||||||||
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01/23/2023 | referred to judiciary | |||||||||||||||||||||||||||||||||||||||||||||||||
05/16/2023 | reported referred to rules | |||||||||||||||||||||||||||||||||||||||||||||||||
05/22/2023 | reported | |||||||||||||||||||||||||||||||||||||||||||||||||
05/22/2023 | rules report cal.187 | |||||||||||||||||||||||||||||||||||||||||||||||||
05/22/2023 | ordered to third reading rules cal.187 | |||||||||||||||||||||||||||||||||||||||||||||||||
06/01/2023 | passed assembly | |||||||||||||||||||||||||||||||||||||||||||||||||
06/01/2023 | delivered to senate | |||||||||||||||||||||||||||||||||||||||||||||||||
06/01/2023 | REFERRED TO JUDICIARY | |||||||||||||||||||||||||||||||||||||||||||||||||
06/09/2023 | SUBSTITUTED FOR S5400 | |||||||||||||||||||||||||||||||||||||||||||||||||
06/09/2023 | 3RD READING CAL.1806 | |||||||||||||||||||||||||||||||||||||||||||||||||
06/09/2023 | PASSED SENATE | |||||||||||||||||||||||||||||||||||||||||||||||||
06/09/2023 | RETURNED TO ASSEMBLY | |||||||||||||||||||||||||||||||||||||||||||||||||
09/19/2023 | delivered to governor | |||||||||||||||||||||||||||||||||||||||||||||||||
09/22/2023 | signed chap.484 |
A01967 Committee Votes:
Lavine | Aye | Tannousis | Aye | ||||||
Zebrowski | Excused | Norris | Aye | ||||||
Weprin | Aye | Walsh | Nay | ||||||
Braunstein | Aye | Byrnes | Nay | ||||||
Steck | Aye | Brown | Nay | ||||||
Seawright | Aye | Flood | Nay | ||||||
Joyner | Aye | ||||||||
Wallace | Aye | ||||||||
Walker | Excused | ||||||||
Cruz | Aye | ||||||||
McMahon | Aye | ||||||||
Mitaynes | Aye | ||||||||
Rajkumar | Aye | ||||||||
Simon | Aye | ||||||||
Sayegh | Aye | ||||||||
Heastie | Excused | Barclay | Nay | ||||||
Weinstein | Aye | Hawley | Excused | ||||||
Pretlow | Aye | Giglio | Nay | ||||||
Cook | Aye | Blankenbush | Nay | ||||||
Glick | Excused | Norris | Nay | ||||||
Aubry | Aye | Ra | Nay | ||||||
Dinowitz | Aye | Brabenec | Nay | ||||||
Colton | Aye | Palmesano | Nay | ||||||
Magnarelli | Aye | Reilly | Nay | ||||||
Paulin | Aye | ||||||||
Peoples-Stokes | Aye | ||||||||
Benedetto | Aye | ||||||||
Lavine | Aye | ||||||||
Lupardo | Aye | ||||||||
Zebrowski | Aye | ||||||||
Thiele | Aye | ||||||||
Braunstein | Aye | ||||||||
Dickens | Aye | ||||||||
Davila | Aye | ||||||||
Hyndman | Excused | ||||||||
Rozic | Aye | ||||||||
Bronson | Aye | ||||||||
Go to top
A01967 Floor Votes:
Yes
Alvarez
Yes
Carroll
No
Flood
Yes
Kim
No
Palmesano
No
Simpson
Yes
Anderson
Yes
Chandler-Waterm
Yes
Forrest
Yes
Lavine
Yes
Paulin
No
Slater
No
Angelino
No
Chang
No
Friend
Yes
Lee
Yes
Peoples-Stokes
No
Smith
Yes
Ardila
Yes
Clark
Yes
Gallagher
No
Lemondes
Yes
Pheffer Amato
No
Smullen
Yes
Aubry
Yes
Colton
No
Gallahan
Yes
Levenberg
Yes
Pirozzolo
Yes
Solages
No
Barclay
Yes ‡
Conrad
Yes
Gandolfo
Yes
Lucas
Yes
Pretlow
Yes
Steck
Yes
Barrett
Yes
Cook
Yes
Gibbs
Yes
Lunsford
No
Ra
Yes
Stern
No
Beephan
Yes
Cruz
No
Giglio JA
Yes
Lupardo
Yes
Raga
Yes
Stirpe
No
Bendett
ER
Cunningham
No
Giglio JM
Yes
Magnarelli
Yes
Rajkumar
No
Tague
Yes
Benedetto
Yes
Curran
Yes
Glick
No
Maher
Yes
Ramos
Yes
Tannousis
Yes
Bichotte Hermel
Yes
Darling
Yes
Gonzalez-Rojas
Yes
Mamdani
Yes
Reilly
Yes
Tapia
No
Blankenbush
Yes
Davila
ER
Goodell
No
Manktelow
Yes
Reyes
Yes
Taylor
No
Blumencranz
Yes
De Los Santos
No
Gray
Yes
McDonald
Yes
Rivera
Yes
Thiele
Yes
Bores
No
DeStefano
Yes
Gunther
No ‡
McDonough
Yes
Rosenthal D
Yes
Vanel
No
Brabenec
Yes
Dickens
No
Hawley
No
McGowan
Yes
Rosenthal L
Yes
Walker
Yes
Braunstein
Yes
Dilan
Yes
Hevesi
Yes
McMahon
Yes
Rozic
Yes
Wallace
Yes
Bronson
Yes
Dinowitz
Yes
Hunter
Yes
Meeks
Yes
Santabarbara
No
Walsh
No
Brook-Krasny
No
DiPietro
Yes
Hyndman
No
Mikulin
Yes
Sayegh
Yes
Weinstein
No
Brown E
Yes
Durso
Yes
Jackson
No
Miller
Yes
Seawright
Yes
Weprin
No
Brown K
Yes
Eachus
Yes
Jacobson
Yes
Mitaynes
ER
Septimo
Yes
Williams
Yes
Burdick
Yes
Eichenstein
Yes
Jean-Pierre
Yes
Morinello
ER
Shimsky
Yes
Woerner
Yes
Burgos
Yes
Epstein
No
Jensen
Yes
Norris
Yes
Shrestha
Yes
Zaccaro
Yes
Burke
Yes
Fahy
Yes
Jones
Yes
Novakhov
Yes
Sillitti
Yes
Zebrowski
Yes
Buttenschon
ER
Fall
Yes
Joyner
ER
O'Donnell
Yes
Simon
Yes
Zinerman
No ‡
Byrnes
No
Fitzpatrick
Yes
Kelles
Yes
Otis
Yes
Simone
Yes
Mr. Speaker
‡ Indicates voting via videoconference
A01967 Memo:
Go to topNEW YORK STATE ASSEMBLY
MEMORANDUM IN SUPPORT OF LEGISLATION
submitted in accordance with Assembly Rule III, Sec 1(f)   BILL NUMBER: A1967 SPONSOR: Carroll
  TITLE OF BILL: An act to amend the real property law, in relation to requiring disclo- sure of information concerning flood insurance on property condition disclosure statements; and to repeal section 467 of the real property law relating to liability with respect to property disclosures   SUMMARY OF PROVISIONS: Sections 1 and 2 of the bill amend the Real Property Law to add new questions relating to a property's flood history and flood insurance requirements to the Property Condition Disclosure Statement set forth by such section. Property owners would have to disclose whether the proper- ty is located in a 100-year or 500-year floodplain according to FEMA's flood insurance rate maps, whether the property is subject to require- ments under federal law to obtain and maintain flood insurance, and the property's flood insurance history. Section 3 of the bill amends Section 465 of the Real Property Law to strike subdivision 1, which currently provides that in the event that a seller fails to provide the Property Condition Disclosure Statement to a buyer prior to a sale, the buyer receives a $500 credit towards the sale of the property. It also adds the provisions of Section 467 of the Real. Property Law, which is repealed by the bill, to Section 465 of the Real Property Law. Section 4 of the bill repeals Section 467 of the Real Property Law. Section 5 of the bill provides the effective date.   JUSTIFICATION: New York's current flood risk disclosure laws require sellers of resi- dential real property to provide buyers with a property condition disclosure statement prior to the buyer signing a contract of sale. Among other things, the statement requires the seller to disclose wheth- er a property is located in a "designated floodplain," and whether there are any flooding, drainage, or grading problems that have resulted in standing water on the property. The Natural Resources Defense Council (NRDC) currently gives New York's flood risk disclosure law a failing grade, thanks in large part to the fact that if a seller fails to provide the disclosure statement to the buyer, the only penalty for doing so is that the seller has to provide the buyer a $500 credit towards the purchase price of the property. This negligible penalty leads many sellers to treat the requirement to provide the disclosure statement as optional, and the $500 credit as merely a cost of doing business. New York is unique in this regard, as no other state has this opt-out credit option in law. The questions relating to flood history and risk on New York's disclosure statement are also in need of an update to conform with more comprehensive laws passed in states such as Texas and Louisiana which provide buyers with more specific information about the nature of the property's flood risk and their obligation under federal law to obtain flood insurance for the property. New Yorkers deserve to be informed about the condition of residential property they purchase and to be aware of any flood risks they might face when buying or renting their homes, especially in an era where so-called "100-year floods" are happening much more frequently due to climate change. This bill would update New York's disclosure statement to arm homebuyers with more information and repeal the $500 credit, requiring sellers to either provide the disclosure statement or risk being held liable for failure to do so.   PRIOR LEGISLATIVE HISTORY: A.7876/S.5472 of 2021-22 - the provisions of this legislation pertaining to residential leases were included in and passed as A.7876-A/S.5472 and signed into law by the Governor   FISCAL IMPLICATIONS FOR STATE AND LOCAL GOVERNMENTS: To be determined.   EFFECTIVE DATE: This act shall take effect on the one hundred eightieth day after it shall have become a law
A01967 Text:
Go to top STATE OF NEW YORK ________________________________________________________________________ 1967 2023-2024 Regular Sessions IN ASSEMBLY January 23, 2023 ___________ Introduced by M. of A. CARROLL -- read once and referred to the Commit- tee on Judiciary AN ACT to amend the real property law, in relation to requiring disclo- sure of information concerning flood insurance on property condition disclosure statements; and to repeal section 467 of the real property law relating to liability with respect to property disclosures The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. Subdivision 2 of section 462 of the real property law, as 2 added by chapter 456 of the laws of 2001, is amended to read as follows: 3 2. The following shall be the disclosure form: 4 PROPERTY CONDITION DISCLOSURE STATEMENT 5 NAME OF SELLER OR SELLERS: 6 PROPERTY ADDRESS: 7 THE PROPERTY CONDITION DISCLOSURE ACT REQUIRES THE SELLER OF RESIDEN- 8 TIAL REAL PROPERTY TO CAUSE THIS DISCLOSURE STATEMENT OR A COPY THEREOF 9 TO BE DELIVERED TO A BUYER OR BUYER'S AGENT PRIOR TO THE SIGNING BY THE 10 BUYER OF A BINDING CONTRACT OF SALE. 11 PURPOSE OF STATEMENT: THIS IS A STATEMENT OF CERTAIN CONDITIONS AND 12 INFORMATION CONCERNING THE PROPERTY KNOWN TO THE SELLER. THIS DISCLOSURE 13 STATEMENT IS NOT A WARRANTY OF ANY KIND BY THE SELLER OR BY ANY AGENT 14 REPRESENTING THE SELLER IN THIS TRANSACTION. IT IS NOT A SUBSTITUTE FOR 15 ANY INSPECTIONS OR TESTS AND THE BUYER IS ENCOURAGED TO OBTAIN HIS OR 16 HER OWN INDEPENDENT PROFESSIONAL INSPECTIONS AND ENVIRONMENTAL TESTS AND 17 ALSO IS ENCOURAGED TO CHECK PUBLIC RECORDS PERTAINING TO THE PROPERTY. 18 A KNOWINGLY FALSE OR INCOMPLETE STATEMENT BY THE SELLER ON THIS FORM 19 MAY SUBJECT THE SELLER TO CLAIMS BY THE BUYER PRIOR TO OR AFTER THE EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD04357-01-3A. 1967 2 1 TRANSFER OF TITLE. [IN THE EVENT A SELLER FAILS TO PERFORM THE DUTY2PRESCRIBED IN THIS ARTICLE TO DELIVER A DISCLOSURE STATEMENT PRIOR TO3THE SIGNING BY THE BUYER OF A BINDING CONTRACT OF SALE, THE BUYER SHALL4RECEIVE UPON THE TRANSFER OF TITLE A CREDIT OF FIVE HUNDRED DOLLARS5AGAINST THE AGREED UPON PURCHASE PRICE OF THE RESIDENTIAL REAL PROPER-6TY.] 7 "RESIDENTIAL REAL PROPERTY" MEANS REAL PROPERTY IMPROVED BY A ONE TO 8 FOUR FAMILY DWELLING USED OR OCCUPIED, OR INTENDED TO BE USED OR OCCU- 9 PIED, WHOLLY OR PARTLY, AS THE HOME OR RESIDENCE OF ONE OR MORE PERSONS, 10 BUT SHALL NOT REFER TO (A) UNIMPROVED REAL PROPERTY UPON WHICH SUCH 11 DWELLINGS ARE TO BE CONSTRUCTED OR (B) CONDOMINIUM UNITS OR COOPERATIVE 12 APARTMENTS OR (C) PROPERTY ON A HOMEOWNERS' ASSOCIATION THAT IS NOT 13 OWNED IN FEE SIMPLE BY THE SELLER. 14 INSTRUCTIONS TO THE SELLER: 15 (a) ANSWER ALL QUESTIONS BASED UPON YOUR ACTUAL KNOWLEDGE. 16 (b) ATTACH ADDITIONAL PAGES WITH YOUR SIGNATURE IF ADDITIONAL SPACE IS 17 REQUIRED. 18 (c) COMPLETE THIS FORM YOURSELF. 19 (d) IF SOME ITEMS DO NOT APPLY TO YOUR PROPERTY, CHECK "NA" (NON-AP- 20 PLICABLE). IF YOU DO NOT KNOW THE ANSWER CHECK "UNKN" (UNKNOWN). 21 SELLER'S STATEMENT: THE SELLER MAKES THE FOLLOWING REPRESENTATIONS TO 22 THE BUYER BASED UPON THE SELLER'S ACTUAL KNOWLEDGE AT THE TIME OF SIGN- 23 ING THIS DOCUMENT. THE SELLER AUTHORIZES HIS OR HER AGENT, IF ANY, TO 24 PROVIDE A COPY OF THIS STATEMENT TO A PROSPECTIVE BUYER OF THE RESIDEN- 25 TIAL REAL PROPERTY. THE FOLLOWING ARE REPRESENTATIONS MADE BY THE SELLER 26 AND ARE NOT THE REPRESENTATIONS OF THE SELLER'S AGENT. 27 GENERAL INFORMATION 28 1. HOW LONG HAVE YOU OWNED THE PROPERTY? 29 2. HOW LONG HAVE YOU OCCUPIED THE PROPERTY? 30 3. WHAT IS THE AGE OF THE STRUCTURE OR STRUCTURES? NOTE TO BUYER--IF 31 THE STRUCTURE WAS BUILT BEFORE 1978 YOU ARE ENCOURAGED TO INVESTI- 32 GATE FOR THE PRESENCE OF LEAD BASED PAINT. 33 4. DOES ANYBODY OTHER THAN YOURSELF HAVE A LEASE, EASEMENT OR ANY 34 OTHER RIGHT TO USE OR OCCUPY ANY PART OF YOUR PROPERTY OTHER THAN 35 THOSE STATED IN DOCUMENTS AVAILABLE IN THE PUBLIC RECORD, SUCH AS 36 RIGHTS TO USE A ROAD OR PATH OR CUT TREES OR CROPS[.]? YES NO UNKN 37 NA 38 5. DOES ANYBODY ELSE CLAIM TO OWN ANY PART OF YOUR PROPERTY? YES NO 39 UNKN NA (IF YES, EXPLAIN BELOW) 40 6. HAS ANYONE DENIED YOU ACCESS TO THE PROPERTY OR MADE A FORMAL LEGAL 41 CLAIM CHALLENGING YOUR TITLE TO THE PROPERTY? YES NO UNKN NA (IF 42 YES, EXPLAIN BELOW) 43 7. ARE THERE ANY FEATURES OF THE PROPERTY SHARED IN COMMON WITH 44 ADJOINING LAND OWNERS OR A HOMEOWNERS ASSOCIATION, SUCH AS WALLS, 45 FENCES OR DRIVEWAYS? YES NO UNKN NA (IF YES DESCRIBE BELOW) 46 8. ARE THERE ANY ELECTRIC OR GAS UTILITY SURCHARGES FOR LINE EXTEN- 47 SIONS, SPECIAL ASSESSMENTS OR HOMEOWNER OR OTHER ASSOCIATION FEES 48 THAT APPLY TO THE PROPERTY? YES NO UNKN NA (IF YES, EXPLAIN BELOW) 49 9. ARE THERE CERTIFICATES OF OCCUPANCY RELATED TO THE PROPERTY? YES 50 NO UNKN NA (IF NO, EXPLAIN BELOW) 51 ENVIRONMENTALA. 1967 3 1 NOTE TO SELLER - IN THIS SECTION, YOU WILL BE ASKED QUESTIONS REGARD- 2 ING PETROLEUM PRODUCTS AND HAZARDOUS OR TOXIC SUBSTANCES THAT YOU KNOW 3 TO HAVE BEEN SPILLED, LEAKED OR OTHERWISE BEEN RELEASED ON THE PROPERTY 4 OR FROM THE PROPERTY ONTO ANY OTHER PROPERTY. PETROLEUM PRODUCTS MAY 5 INCLUDE, BUT ARE NOT LIMITED TO, GASOLINE, DIESEL FUEL, HOME HEATING 6 FUEL, AND LUBRICANTS. HAZARDOUS OR TOXIC SUBSTANCES ARE PRODUCTS THAT 7 COULD POSE SHORT- OR LONG-TERM DANGER TO PERSONAL HEALTH OR THE ENVIRON- 8 MENT IF THEY ARE NOT PROPERLY DISPOSED OF, APPLIED OR STORED. THESE 9 INCLUDE, BUT ARE NOT LIMITED TO, FERTILIZERS, PESTICIDES AND INSECTI- 10 CIDES, PAINT INCLUDING PAINT THINNER, VARNISH REMOVER AND WOOD PRESERVA- 11 TIVES, TREATED WOOD, CONSTRUCTION MATERIALS SUCH AS ASPHALT AND ROOFING 12 MATERIALS, ANTIFREEZE AND OTHER AUTOMOTIVE PRODUCTS, BATTERIES, CLEANING 13 SOLVENTS INCLUDING SEPTIC TANK CLEANERS, HOUSEHOLD CLEANERS AND POOL 14 CHEMICALS AND PRODUCTS CONTAINING MERCURY AND LEAD. 15 NOTE TO BUYER - IF CONTAMINATION OF THIS PROPERTY FROM PETROLEUM 16 PRODUCTS AND/OR HAZARDOUS OR TOXIC SUBSTANCES IS A CONCERN TO YOU, YOU 17 ARE URGED TO CONSIDER SOIL AND GROUNDWATER TESTING OF THIS PROPERTY. 18 10. IS ANY OR ALL OF THE PROPERTY LOCATED IN A FEDERAL EMERGENCY 19 MANAGEMENT AGENCY (FEMA) DESIGNATED FLOODPLAIN? YES NO UNKN NA 20 (IF YES, EXPLAIN BELOW) 21 11. IS ANY OR ALL OF THE PROPERTY LOCATED WHOLLY OR PARTIALLY IN THE 22 SPECIAL FLOOD HAZARD AREA ("SFHA"; "100-YEAR FLOODPLAIN") ACCORD- 23 ING TO THE FEDERAL EMERGENCY MANAGEMENT AGENCY'S (FEMA'S) CURRENT 24 FLOOD INSURANCE RATE MAPS FOR YOUR AREA? YES NO UNKN NA (IF YES, 25 EXPLAIN BELOW) 26 12. IS ANY OR ALL OF THE PROPERTY LOCATED WHOLLY OR PARTIALLY IN A 27 MODERATE RISK FLOOD HAZARD AREA ("500-YEAR FLOODPLAIN") ACCORDING 28 TO FEMA'S CURRENT FLOOD INSURANCE RATE MAPS FOR YOUR AREA? YES NO 29 UNKN NA (IF YES, EXPLAIN BELOW) 30 13. IS THE PROPERTY SUBJECT TO ANY REQUIREMENT UNDER FEDERAL LAW TO 31 OBTAIN AND MAINTAIN FLOOD INSURANCE ON THE PROPERTY? YES NO UNKN 32 NA (IF YES, EXPLAIN BELOW) 33 HOMES IN THE SPECIAL FLOOD HAZARD AREA, ALSO KNOWN AS HIGH RISK 34 FLOOD ZONES, ON FEMA'S FLOOD INSURANCE RATE MAPS WITH MORTGAGES 35 FROM FEDERALLY REGULATED OR INSURED LENDERS ARE REQUIRED TO OBTAIN 36 AND MAINTAIN FLOOD INSURANCE. EVEN WHEN NOT REQUIRED, FEMA ENCOUR- 37 AGES HOMEOWNERS IN HIGH RISK, MODERATE RISK, AND LOW RISK FLOOD 38 ZONES TO PURCHASE FLOOD INSURANCE THAT COVERS THE STRUCTURE(S) AND 39 THE PERSONAL PROPERTY WITHIN THE STRUCTURE(S). ALSO NOTE THAT 40 HOMES IN COASTAL AREAS MAY BE SUBJECT TO INCREASED RISK OF FLOOD- 41 ING OVER TIME DUE TO PROJECTED SEA LEVEL RISE AND INCREASED 42 EXTREME STORMS CAUSED BY CLIMATE CHANGE WHICH MAY NOT BE REFLECTED 43 IN CURRENT FLOOD INSURANCE RATE MAPS. 44 14. HAVE YOU EVER RECEIVED ASSISTANCE, OR ARE YOU AWARE OF ANY PREVI- 45 OUS OWNERS RECEIVING ASSISTANCE, FROM THE FEDERAL EMERGENCY 46 MANAGEMENT AGENCY (FEMA), THE U.S. SMALL BUSINESS ADMINISTRATION 47 (SBA), OR ANY OTHER FEDERAL DISASTER FLOOD ASSISTANCE FOR FLOOD 48 DAMAGE TO THE PROPERTY? YES NO UNKN NA (IF YES, EXPLAIN BELOW) 49 FOR PROPERTIES THAT HAVE RECEIVED FEDERAL DISASTER ASSISTANCE, THE 50 REQUIREMENT TO OBTAIN FLOOD INSURANCE PASSES DOWN TO ALL FUTURE 51 OWNERS. FAILURE TO OBTAIN AND MAINTAIN FLOOD INSURANCE CAN RESULT 52 IN AN INDIVIDUAL BEING INELIGIBLE FOR FUTURE ASSISTANCE. 53 15. IS THERE FLOOD INSURANCE ON THE PROPERTY? YES NO UNKN NA (IF YES, 54 ATTACH A COPY OF THE POLICY)A. 1967 4 1 A STANDARD HOMEOWNER'S INSURANCE POLICY TYPICALLY DOES NOT COVER 2 FLOOD DAMAGE. YOU ARE ENCOURAGED TO EXAMINE YOUR POLICY TO DETER- 3 MINE WHETHER YOU ARE COVERED. 4 16. IS THERE A FEMA ELEVATION CERTIFICATE AVAILABLE FOR THE PROPERTY? 5 YES NO UNKN NA (IF YES, ATTACH A COPY OF THE CERTIFICATE) 6 AN ELEVATION CERTIFICATE IS A FEMA FORM, COMPLETED BY A LICENSED 7 SURVEYOR OR ENGINEER. THE FORM PROVIDES CRITICAL INFORMATION ABOUT 8 THE FLOOD RISK OF THE PROPERTY AND IS USED BY FLOOD INSURANCE 9 PROVIDERS UNDER THE NATIONAL FLOOD INSURANCE PROGRAM (NFIP) TO 10 HELP DETERMINE THE APPROPRIATE FLOOD INSURANCE RATING FOR THE 11 PROPERTY. A BUYER MAY BE ABLE TO USE THE ELEVATION CERTIFICATE 12 FROM A PREVIOUS OWNER FOR THEIR FLOOD INSURANCE POLICY. 13 17. HAVE YOU EVER FILED A CLAIM FOR FLOOD DAMAGE TO THE PROPERTY WITH 14 ANY INSURANCE PROVIDER, INCLUDING THE NATIONAL FLOOD INSURANCE 15 PROGRAM (NFIP)? YES NO UNKN NA (IF YES, EXPLAIN BELOW) 16 18. IS ANY OR ALL OF THE PROPERTY LOCATED IN A DESIGNATED WETLAND? 17 YES NO UNKN NA (IF YES, EXPLAIN BELOW) 18 [12.] 19. IS THE PROPERTY LOCATED IN AN AGRICULTURAL DISTRICT? YES 19 NO UNKN NA (IF YES, EXPLAIN BELOW) 20 [13.] 20. WAS THE PROPERTY EVER THE SITE OF A LANDFILL? YES NO UNKN 21 NA (IF YES, EXPLAIN BELOW) 22 [14.] 21. ARE THERE OR HAVE THERE EVER BEEN FUEL STORAGE TANKS ABOVE 23 OR BELOW THE GROUND ON THE PROPERTY? YES NO UNKN NA IF YES, 24 ARE THEY CURRENTLY IN USE? YES NO UNKN NA LOCATION(S) ARE THEY 25 LEAKING OR HAVE THEY EVER LEAKED? YES NO UNKN NA (IF YES, EXPLAIN 26 BELOW) 27 [15.] 22. IS THERE ASBESTOS IN THE STRUCTURE? YES NO UNKN NA (IF YES, 28 STATE LOCATION OR LOCATIONS BELOW) 29 [16.] 23. IS LEAD PLUMBING PRESENT? YES NO UNKN NA (IF YES, STATE 30 LOCATION OR LOCATIONS BELOW) 31 [17.] 24. HAS A RADON TEST BEEN DONE? YES NO UNKN NA (IF YES, ATTACH A 32 COPY OF THE REPORT) 33 [18.] 25. HAS MOTOR FUEL, MOTOR OIL, HOME HEATING FUEL, LUBRICATING 34 OIL OR ANY OTHER PETROLEUM PRODUCT, METHANE GAS, OR ANY HAZARDOUS 35 OR TOXIC SUBSTANCE SPILLED, LEAKED OR OTHERWISE BEEN RELEASED ON 36 THE PROPERTY OR FROM THE PROPERTY ONTO ANY OTHER PROPERTY? YES NO 37 UNKN NA (IF YES, DESCRIBE BELOW) 38 [19.] 26. HAS THE PROPERTY BEEN TESTED FOR THE PRESENCE OF MOTOR FUEL, 39 MOTOR OIL, HOME HEATING FUEL, LUBRICATING OIL, OR ANY OTHER PETRO- 40 LEUM PRODUCT, METHANE GAS, OR ANY HAZARDOUS OR TOXIC SUBSTANCE? 41 YES NO UNKN NA (IF YES, ATTACH REPORT(S)) 42 STRUCTURAL 43 [20.] 27. IS THERE ANY ROT OR WATER DAMAGE TO THE STRUCTURE OR STRUC- 44 TURES? YES NO UNKN NA (IF YES, EXPLAIN BELOW) 45 [21.] 28. IS THERE ANY FIRE OR SMOKE DAMAGE TO THE STRUCTURE OR STRUC- 46 TURES? YES NO UNKN NA (IF YES, EXPLAIN BELOW) 47 [22.] 29. IS THERE ANY TERMITE, INSECT, RODENT OR PEST INFESTATION OR 48 DAMAGE? YES NO UNKN NA (IF YES, EXPLAIN BELOW) 49 [23.] 30. HAS THE PROPERTY BEEN TESTED FOR TERMITE, INSECT, RODENT OR 50 PEST INFESTATION OR DAMAGE? YES NO UNKN NA (IF YES, PLEASE ATTACH 51 REPORT(S)) 52 [24.] 31. WHAT IS THE TYPE OF ROOF/ROOF COVERING (SLATE, ASPHALT, 53 OTHER.)? ANY KNOWN MATERIAL DEFECTS? HOW OLD IS THE ROOF? IS THERE 54 A TRANSFERABLE [WARRANTEE] WARRANTY ON THE ROOF IN EFFECT NOW? YES 55 NO UNKN NA (IF YES, EXPLAIN BELOW)A. 1967 5 1 [25.] 32. ARE THERE ANY KNOWN MATERIAL DEFECTS IN ANY OF THE FOLLOWING 2 STRUCTURAL SYSTEMS: FOOTINGS, BEAMS, GIRDERS, LINTELS, COLUMNS OR 3 PARTITIONS[.]? YES NO UNKN NA (IF YES, EXPLAIN BELOW) 4 MECHANICAL SYSTEMS & SERVICES 5 [26.] 33. WHAT IS THE WATER SOURCE (CIRCLE ALL THAT APPLY - WELL, 6 PRIVATE, MUNICIPAL, OTHER)? IF MUNICIPAL, IS IT METERED? YES NO 7 UNKN NA 8 [27.] 34. HAS THE WATER QUALITY AND/OR FLOW RATE BEEN TESTED? YES NO 9 UNKN NA (IF YES, DESCRIBE BELOW) 10 [28.] 35. WHAT IS THE TYPE OF SEWAGE SYSTEM (CIRCLE ALL THAT APPLY - 11 PUBLIC SEWER, PRIVATE SEWER, SEPTIC OR CESSPOOL)? IF SEPTIC OR 12 CESSPOOL, AGE? ________ DATE LAST PUMPED? ________ FREQUENCY OF 13 PUMPING? ________ ANY KNOWN MATERIAL DEFECTS? YES NO UNKN NA (IF 14 YES, EXPLAIN BELOW) 15 [29.] 36. WHO IS YOUR ELECTRIC SERVICE PROVIDER? ________ WHAT IS THE 16 AMPERAGE? ________ DOES IT HAVE CIRCUIT BREAKERS OR FUSES? 17 ________ PRIVATE OR PUBLIC POLES? ________ ANY KNOWN MATERIAL 18 DEFECTS? YES NO UNKN NA (IF YES, EXPLAIN BELOW) 19 [30.] 37. ARE THERE ANY FLOODING, DRAINAGE OR GRADING PROBLEMS THAT 20 RESULTED IN STANDING WATER ON ANY PORTION OF THE PROPERTY? YES NO 21 UNKN NA (IF YES, STATE LOCATIONS AND EXPLAIN BELOW) 22 [31. DOES THE BASEMENT HAVE SEEPAGE THAT RESULTS IN STANDING WATER?23YES NO UNKN NA (IF YES, EXPLAIN BELOW)] 38. HAS THE STRUCTURE(S) 24 EXPERIENCED ANY WATER PENETRATION OR DAMAGE DUE TO SEEPAGE OR A 25 NATURAL FLOOD EVENT, SUCH AS FROM HEAVY RAINFALL, COASTAL STORM 26 SURGE, TIDAL INUNDATION OR RIVER OVERFLOW? YES NO UNKN NA (IF 27 YES, EXPLAIN BELOW) 28 ARE THERE ANY KNOWN MATERIAL DEFECTS IN ANY OF THE FOLLOWING (IF YES, 29 EXPLAIN BELOW. USE ADDITIONAL SHEETS IF NECESSARY.): 30 [32.] 39. PLUMBING SYSTEM? YES NO UNKN NA 31 [33.] 40. SECURITY SYSTEM? YES NO UNKN NA 32 [34.] 41. CARBON MONOXIDE DETECTOR? YES NO UNKN NA 33 [35.] 42. SMOKE DETECTOR? YES NO UNKN NA 34 [36.] 43. FIRE SPRINKLER SYSTEM? YES NO UNKN NA 35 [37.] 44. SUMP PUMP? YES NO UNKN NA 36 [38.] 45. FOUNDATION/SLAB? YES NO UNKN NA 37 [39.] 46. INTERIOR WALLS/CEILINGS? YES NO UNKN NA 38 [40.] 47. EXTERIOR WALLS OR SIDING? YES NO UNKN NA 39 [41.] 48. FLOORS? YES NO UNKN NA 40 [42.] 49. CHIMNEY/FIREPLACE OR STOVE? YES NO UNKN NA 41 [43.] 50. PATIO/DECK? YES NO UNKN NA 42 [44.] 51. DRIVEWAY? YES NO UNKN NA 43 [45.] 52. AIR CONDITIONER? YES NO UNKN NA 44 [46.] 53. HEATING SYSTEM? YES NO UNKN NA 45 [47.] 54. HOT WATER HEATER? YES NO UNKN NA 46 [48.] 55. THE PROPERTY IS LOCATED IN THE 47 FOLLOWING SCHOOL DISTRICT UNKN 48 NOTE: BUYER IS ENCOURAGED TO CHECK PUBLIC RECORDS CONCERNING THE PROP- 49 ERTY (E.G. TAX RECORDS AND WETLAND AND [FLOOD PLAIN] FEMA'S CURRENT 50 FLOOD INSURANCE RATE MAPS AND ELEVATION CERTIFICATES)A. 1967 6 1 THE SELLER SHOULD USE THIS AREA TO FURTHER EXPLAIN ANY ITEM ABOVE. IF 2 NECESSARY, ATTACH ADDITIONAL PAGES AND INDICATE HERE THE NUMBER OF ADDI- 3 TIONAL PAGES ATTACHED. 4 ______________________________________________________________________ 5 ______________________________________________________________________ 6 ______________________________________________________________________ 7 ______________________________________________________________________ 8 SELLER'S CERTIFICATION: SELLER CERTIFIES THAT THE INFORMATION IN THIS 9 PROPERTY CONDITION DISCLOSURE STATEMENT IS TRUE AND COMPLETE TO THE 10 SELLER'S ACTUAL KNOWLEDGE AS OF THE DATE SIGNED BY THE SELLER. IF A 11 SELLER OF RESIDENTIAL REAL PROPERTY ACQUIRES KNOWLEDGE WHICH RENDERS 12 MATERIALLY INACCURATE A PROPERTY CONDITION DISCLOSURE STATEMENT PROVIDED 13 PREVIOUSLY, THE SELLER SHALL DELIVER A REVISED PROPERTY CONDITION 14 DISCLOSURE STATEMENT TO THE BUYER AS SOON AS PRACTICABLE. IN NO EVENT, 15 HOWEVER, SHALL A SELLER BE REQUIRED TO PROVIDE A REVISED PROPERTY CONDI- 16 TION DISCLOSURE STATEMENT AFTER THE TRANSFER OF TITLE FROM THE SELLER TO 17 THE BUYER OR OCCUPANCY BY THE BUYER, WHICHEVER IS EARLIER. 18 SELLER _______________________________________ DATE ________________ 19 SELLER _______________________________________ DATE ________________ 20 BUYER'S ACKNOWLEDGMENT: BUYER ACKNOWLEDGES RECEIPT OF A COPY OF THIS 21 STATEMENT AND BUYER UNDERSTANDS THAT THIS INFORMATION IS A STATEMENT OF 22 CERTAIN CONDITIONS AND INFORMATION CONCERNING THE PROPERTY KNOWN TO THE 23 SELLER. IT IS NOT A WARRANTY OF ANY KIND BY THE SELLER OR SELLER'S AGENT 24 AND IS NOT A SUBSTITUTE FOR ANY HOME, PEST, RADON OR OTHER INSPECTIONS 25 OR TESTING OF THE PROPERTY OR INSPECTION OF THE PUBLIC RECORDS. 26 BUYER _______________________________________ DATE ________________ 27 BUYER _______________________________________ DATE ________________ 28 § 2. Subdivision 2 of section 462 of the real property law, as amended 29 by chapter 690 of the laws of 2022, is amended to read as follows: 30 2. The following shall be the disclosure form: 31 PROPERTY CONDITION DISCLOSURE STATEMENT 32 NAME OF SELLER OR SELLERS: 33 PROPERTY ADDRESS: 34 THE PROPERTY CONDITION DISCLOSURE ACT REQUIRES THE SELLER OF RESIDEN- 35 TIAL REAL PROPERTY TO CAUSE THIS DISCLOSURE STATEMENT OR A COPY THEREOF 36 TO BE DELIVERED TO A BUYER OR BUYER'S AGENT PRIOR TO THE SIGNING BY THE 37 BUYER OF A BINDING CONTRACT OF SALE. 38 PURPOSE OF STATEMENT: THIS IS A STATEMENT OF CERTAIN CONDITIONS AND 39 INFORMATION CONCERNING THE PROPERTY KNOWN TO THE SELLER. THIS DISCLOSURE 40 STATEMENT IS NOT A WARRANTY OF ANY KIND BY THE SELLER OR BY ANY AGENT 41 REPRESENTING THE SELLER IN THIS TRANSACTION. IT IS NOT A SUBSTITUTE FOR 42 ANY INSPECTIONS OR TESTS AND THE BUYER IS ENCOURAGED TO OBTAIN HIS OR 43 HER OWN INDEPENDENT PROFESSIONAL INSPECTIONS AND ENVIRONMENTAL TESTS AND 44 ALSO IS ENCOURAGED TO CHECK PUBLIC RECORDS PERTAINING TO THE PROPERTY. 45 A KNOWINGLY FALSE OR INCOMPLETE STATEMENT BY THE SELLER ON THIS FORM 46 MAY SUBJECT THE SELLER TO CLAIMS BY THE BUYER PRIOR TO OR AFTER THE 47 TRANSFER OF TITLE. [IN THE EVENT A SELLER FAILS TO PERFORM THE DUTY48PRESCRIBED IN THIS ARTICLE TO DELIVER A DISCLOSURE STATEMENT PRIOR TO49THE SIGNING BY THE BUYER OF A BINDING CONTRACT OF SALE, THE BUYER SHALL50RECEIVE UPON THE TRANSFER OF TITLE A CREDIT OF FIVE HUNDRED DOLLARSA. 1967 7 1AGAINST THE AGREED UPON PURCHASE PRICE OF THE RESIDENTIAL REAL PROPER-2TY.] 3 "RESIDENTIAL REAL PROPERTY" MEANS REAL PROPERTY IMPROVED BY A ONE TO 4 FOUR FAMILY DWELLING USED OR OCCUPIED, OR INTENDED TO BE USED OR OCCU- 5 PIED, WHOLLY OR PARTLY, AS THE HOME OR RESIDENCE OF ONE OR MORE PERSONS, 6 BUT SHALL NOT REFER TO (A) UNIMPROVED REAL PROPERTY UPON WHICH SUCH 7 DWELLINGS ARE TO BE CONSTRUCTED OR (B) CONDOMINIUM UNITS OR COOPERATIVE 8 APARTMENTS OR (C) PROPERTY ON A HOMEOWNERS' ASSOCIATION THAT IS NOT 9 OWNED IN FEE SIMPLE BY THE SELLER. 10 INSTRUCTIONS TO THE SELLER: 11 (a) ANSWER ALL QUESTIONS BASED UPON YOUR ACTUAL KNOWLEDGE. 12 (b) ATTACH ADDITIONAL PAGES WITH YOUR SIGNATURE IF ADDITIONAL SPACE IS 13 REQUIRED. 14 (c) COMPLETE THIS FORM YOURSELF. 15 (d) IF SOME ITEMS DO NOT APPLY TO YOUR PROPERTY, CHECK "NA" (NON-AP- 16 PLICABLE). IF YOU DO NOT KNOW THE ANSWER CHECK "UNKN" (UNKNOWN). 17 SELLER'S STATEMENT: THE SELLER MAKES THE FOLLOWING REPRESENTATIONS TO 18 THE BUYER BASED UPON THE SELLER'S ACTUAL KNOWLEDGE AT THE TIME OF SIGN- 19 ING THIS DOCUMENT. THE SELLER AUTHORIZES HIS OR HER AGENT, IF ANY, TO 20 PROVIDE A COPY OF THIS STATEMENT TO A PROSPECTIVE BUYER OF THE RESIDEN- 21 TIAL REAL PROPERTY. THE FOLLOWING ARE REPRESENTATIONS MADE BY THE SELLER 22 AND ARE NOT THE REPRESENTATIONS OF THE SELLER'S AGENT. 23 GENERAL INFORMATION 24 1. HOW LONG HAVE YOU OWNED THE PROPERTY? 25 2. HOW LONG HAVE YOU OCCUPIED THE PROPERTY? 26 3. WHAT IS THE AGE OF THE STRUCTURE OR STRUCTURES? NOTE TO BUYER--IF 27 THE STRUCTURE WAS BUILT BEFORE 1978 YOU ARE ENCOURAGED TO INVESTI- 28 GATE FOR THE PRESENCE OF LEAD BASED PAINT. 29 4. DOES ANYBODY OTHER THAN YOURSELF HAVE A LEASE, EASEMENT OR ANY 30 OTHER RIGHT TO USE OR OCCUPY ANY PART OF YOUR PROPERTY OTHER THAN 31 THOSE STATED IN DOCUMENTS AVAILABLE IN THE PUBLIC RECORD, SUCH AS 32 RIGHTS TO USE A ROAD OR PATH OR CUT TREES OR CROPS. YES NO UNKN NA 33 5. DOES ANYBODY ELSE CLAIM TO OWN ANY PART OF YOUR PROPERTY? YES NO 34 UNKN NA (IF YES, EXPLAIN BELOW) 35 6. HAS ANYONE DENIED YOU ACCESS TO THE PROPERTY OR MADE A FORMAL LEGAL 36 CLAIM CHALLENGING YOUR TITLE TO THE PROPERTY? YES NO UNKN NA (IF 37 YES, EXPLAIN BELOW) 38 7. ARE THERE ANY FEATURES OF THE PROPERTY SHARED IN COMMON WITH 39 ADJOINING LAND OWNERS OR A HOMEOWNERS ASSOCIATION, SUCH AS WALLS, 40 FENCES OR DRIVEWAYS? YES NO UNKN NA (IF YES DESCRIBE BELOW) 41 8. ARE THERE ANY ELECTRIC OR GAS UTILITY SURCHARGES FOR LINE EXTEN- 42 SIONS, SPECIAL ASSESSMENTS OR HOMEOWNER OR OTHER ASSOCIATION FEES 43 THAT APPLY TO THE PROPERTY? YES NO UNKN NA (IF YES, EXPLAIN BELOW) 44 9. ARE THERE CERTIFICATES OF OCCUPANCY RELATED TO THE PROPERTY? YES 45 NO UNKN NA (IF NO, EXPLAIN BELOW) 46 ENVIRONMENTAL 47 NOTE TO SELLER - IN THIS SECTION, YOU WILL BE ASKED QUESTIONS REGARD- 48 ING PETROLEUM PRODUCTS AND HAZARDOUS OR TOXIC SUBSTANCES THAT YOU KNOW 49 TO HAVE BEEN SPILLED, LEAKED OR OTHERWISE BEEN RELEASED ON THE PROPERTY 50 OR FROM THE PROPERTY ONTO ANY OTHER PROPERTY. PETROLEUM PRODUCTS MAY 51 INCLUDE, BUT ARE NOT LIMITED TO, GASOLINE, DIESEL FUEL, HOME HEATING 52 FUEL, AND LUBRICANTS. HAZARDOUS OR TOXIC SUBSTANCES ARE PRODUCTS OR 53 OTHER MATERIAL THAT COULD POSE SHORT- OR LONG-TERM DANGER TO PERSONALA. 1967 8 1 HEALTH OR THE ENVIRONMENT IF THEY ARE NOT PROPERLY DISPOSED OF, APPLIED 2 OR STORED. THESE INCLUDE, BUT ARE NOT LIMITED TO, FERTILIZERS, PESTI- 3 CIDES AND INSECTICIDES, PAINT INCLUDING PAINT THINNER, VARNISH REMOVER 4 AND WOOD PRESERVATIVES, TREATED WOOD, CONSTRUCTION MATERIALS SUCH AS 5 ASPHALT AND ROOFING MATERIALS, ANTIFREEZE AND OTHER AUTOMOTIVE PRODUCTS, 6 BATTERIES, CLEANING SOLVENTS INCLUDING SEPTIC TANK CLEANERS, HOUSEHOLD 7 CLEANERS, POOL CHEMICALS, PRODUCTS CONTAINING MERCURY AND LEAD AND 8 INDOOR MOLD. 9 NOTE TO BUYER - IF CONTAMINATION OF THIS PROPERTY FROM PETROLEUM 10 PRODUCTS AND/OR HAZARDOUS OR TOXIC SUBSTANCES IS A CONCERN TO YOU, YOU 11 ARE URGED TO CONSIDER SOIL AND GROUNDWATER TESTING OF THIS PROPERTY. 12 10. IS ANY OR ALL OF THE PROPERTY LOCATED IN A FEDERAL EMERGENCY 13 MANAGEMENT AGENCY (FEMA) DESIGNATED FLOODPLAIN? YES NO UNKN NA 14 (IF YES, EXPLAIN BELOW) 15 11. IS ANY OR ALL OF THE PROPERTY LOCATED WHOLLY OR PARTIALLY IN THE 16 SPECIAL FLOOD HAZARD AREA ("SFHA"; "100-YEAR FLOODPLAIN") ACCORD- 17 ING TO THE FEDERAL EMERGENCY MANAGEMENT AGENCY'S (FEMA'S) CURRENT 18 FLOOD INSURANCE RATE MAPS FOR YOUR AREA? YES NO UNKN NA (IF YES, 19 EXPLAIN BELOW) 20 12. IS ANY OR ALL OF THE PROPERTY LOCATED WHOLLY OR PARTIALLY IN A 21 MODERATE RISK FLOOD HAZARD AREA ("500-YEAR FLOODPLAIN") ACCORDING 22 TO FEMA'S CURRENT FLOOD INSURANCE RATE MAPS FOR YOUR AREA? YES NO 23 UNKN NA (IF YES, EXPLAIN BELOW) 24 13. IS THE PROPERTY SUBJECT TO ANY REQUIREMENT UNDER FEDERAL LAW TO 25 OBTAIN AND MAINTAIN FLOOD INSURANCE ON THE PROPERTY? YES NO UNKN 26 NA (IF YES, EXPLAIN BELOW) 27 HOMES IN THE SPECIAL FLOOD HAZARD AREA, ALSO KNOWN AS HIGH RISK 28 FLOOD ZONES, ON FEMA'S FLOOD INSURANCE RATE MAPS WITH MORTGAGES 29 FROM FEDERALLY REGULATED OR INSURED LENDERS ARE REQUIRED TO OBTAIN 30 AND MAINTAIN FLOOD INSURANCE. EVEN WHEN NOT REQUIRED, FEMA ENCOUR- 31 AGES HOMEOWNERS IN HIGH RISK, MODERATE RISK, AND LOW RISK FLOOD 32 ZONES TO PURCHASE FLOOD INSURANCE THAT COVERS THE STRUCTURE(S) AND 33 THE PERSONAL PROPERTY WITHIN THE STRUCTURE(S). ALSO NOTE THAT 34 HOMES IN COASTAL AREAS MAY BE SUBJECT TO INCREASED RISK OF FLOOD- 35 ING OVER TIME DUE TO PROJECTED SEA LEVEL RISE AND INCREASED 36 EXTREME STORMS CAUSED BY CLIMATE CHANGE WHICH MAY NOT BE REFLECTED 37 IN CURRENT FLOOD INSURANCE RATE MAPS. 38 14. HAVE YOU EVER RECEIVED ASSISTANCE, OR ARE YOU AWARE OF ANY PREVI- 39 OUS OWNERS RECEIVING ASSISTANCE, FROM THE FEDERAL EMERGENCY 40 MANAGEMENT AGENCY (FEMA), THE U.S. SMALL BUSINESS ADMINISTRATION 41 (SBA), OR ANY OTHER FEDERAL DISASTER FLOOD ASSISTANCE FOR FLOOD 42 DAMAGE TO THE PROPERTY? YES NO UNKN NA (IF YES, EXPLAIN BELOW) FOR 43 PROPERTIES THAT HAVE RECEIVED FEDERAL DISASTER ASSISTANCE, THE 44 REQUIREMENT TO OBTAIN FLOOD INSURANCE PASSES DOWN TO ALL FUTURE 45 OWNERS. FAILURE TO OBTAIN AND MAINTAIN FLOOD INSURANCE CAN RESULT 46 IN AN INDIVIDUAL BEING INELIGIBLE FOR FUTURE ASSISTANCE. 47 15. IS THERE FLOOD INSURANCE ON THE PROPERTY? YES NO UNKN NA (IF YES, 48 ATTACH A COPY OF THE POLICY) 49 A STANDARD HOMEOWNER'S INSURANCE POLICY TYPICALLY DOES NOT COVER 50 FLOOD DAMAGE. YOU ARE ENCOURAGED TO EXAMINE YOUR POLICY TO DETER- 51 MINE WHETHER YOU ARE COVERED. 52 16. IS THERE A FEMA ELEVATION CERTIFICATE AVAILABLE FOR THE PROPERTY? 53 YES NO UNKN NA (IF YES, ATTACH A COPY OF THE CERTIFICATE)A. 1967 9 1 AN ELEVATION CERTIFICATE IS A FEMA FORM, COMPLETED BY A LICENSED 2 SURVEYOR OR ENGINEER. THE FORM PROVIDES CRITICAL INFORMATION ABOUT 3 THE FLOOD RISK OF THE PROPERTY AND IS USED BY FLOOD INSURANCE 4 PROVIDERS UNDER THE NATIONAL FLOOD INSURANCE PROGRAM (NFIP) TO 5 HELP DETERMINE THE APPROPRIATE FLOOD INSURANCE RATING FOR THE 6 PROPERTY. A BUYER MAY BE ABLE TO USE THE ELEVATION CERTIFICATE 7 FROM A PREVIOUS OWNER FOR THEIR FLOOD INSURANCE POLICY. 8 17. HAVE YOU EVER FILED A CLAIM FOR FLOOD DAMAGE TO THE PROPERTY WITH 9 ANY INSURANCE PROVIDER, INCLUDING THE NATIONAL FLOOD INSURANCE 10 PROGRAM (NFIP)? YES NO UNKN NA (IF YES, EXPLAIN BELOW) 11 18. IS ANY OR ALL OF THE PROPERTY LOCATED IN A DESIGNATED WETLAND? 12 YES NO UNKN NA (IF YES, EXPLAIN BELOW) 13 [12.] 19. IS THE PROPERTY LOCATED IN AN AGRICULTURAL DISTRICT? YES 14 NO UNKN NA (IF YES, EXPLAIN BELOW) 15 [13.] 20. WAS THE PROPERTY EVER THE SITE OF A LANDFILL? YES NO UNKN 16 NA (IF YES, EXPLAIN BELOW) 17 [14.] 21. ARE THERE OR HAVE THERE EVER BEEN FUEL STORAGE TANKS ABOVE 18 OR BELOW THE GROUND ON THE PROPERTY? YES NO UNKN NA IF YES, 19 ARE THEY CURRENTLY IN USE? YES NO UNKN NA LOCATION(S) ARE THEY 20 LEAKING OR HAVE THEY EVER LEAKED? YES NO UNKN NA (IF YES, 21 EXPLAIN BELOW) 22 [15.] 22. IS THERE ASBESTOS IN THE STRUCTURE? YES NO UNKN NA (IF YES, 23 STATE LOCATION OR LOCATIONS BELOW) 24 [16.] 23. IS LEAD PLUMBING PRESENT? YES NO UNKN NA (IF YES, STATE 25 LOCATION OR LOCATIONS BELOW) 26 [17.] 24. HAS A RADON TEST BEEN DONE? YES NO UNKN NA (IF YES, ATTACH A 27 COPY OF THE REPORT) 28 [18.] 25. HAS MOTOR FUEL, MOTOR OIL, HOME HEATING FUEL, LUBRICATING 29 OIL OR ANY OTHER PETROLEUM PRODUCT, METHANE GAS, OR ANY HAZARD- 30 OUS OR TOXIC SUBSTANCE SPILLED, LEAKED OR OTHERWISE BEEN 31 RELEASED ON THE PROPERTY OR FROM THE PROPERTY ONTO ANY OTHER 32 PROPERTY? YES NO UNKN NA (IF YES, DESCRIBE BELOW) 33 [19.] 26. HAS THE PROPERTY BEEN TESTED FOR THE PRESENCE OF MOTOR 34 FUEL, MOTOR OIL, HOME HEATING FUEL, LUBRICATING OIL, OR ANY 35 OTHER PETROLEUM PRODUCT, METHANE GAS, OR ANY HAZARDOUS OR TOXIC 36 SUBSTANCE? YES NO UNKN NA (IF YES, ATTACH REPORT(S)) 37 [19-a.] 27. HAS THE PROPERTY BEEN TESTED FOR INDOOR MOLD? YES NO UNKN 38 (IF YES, ATTACH A COPY OF THE REPORT) 39 STRUCTURAL 40 [20.] 28. IS THERE ANY ROT OR WATER DAMAGE TO THE STRUCTURE OR STRUC- 41 TURES? YES NO UNKN NA (IF YES, EXPLAIN BELOW) 42 [21.] 29. IS THERE ANY FIRE OR SMOKE DAMAGE TO THE STRUCTURE OR STRUC- 43 TURES? YES NO UNKN NA (IF YES, EXPLAIN BELOW) 44 [22.] 30. IS THERE ANY TERMITE, INSECT, RODENT OR PEST INFESTATION OR 45 DAMAGE? YES NO UNKN NA (IF YES, EXPLAIN BELOW) 46 [23.] 31. HAS THE PROPERTY BEEN TESTED FOR TERMITE, INSECT, RODENT OR 47 PEST INFESTATION OR DAMAGE? YES NO UNKN NA (IF YES, PLEASE ATTACH 48 REPORT(S)) 49 [24.] 32. WHAT IS THE TYPE OF ROOF/ROOF COVERING (SLATE, ASPHALT, 50 OTHER.)? ANY KNOWN MATERIAL DEFECTS? HOW OLD IS THE ROOF? IS THERE 51 A TRANSFERABLE [WARRANTEE] WARRANTY ON THE ROOF IN EFFECT NOW? YES 52 NO UNKN NA (IF YES, EXPLAIN BELOW) 53 [25.] 33. ARE THERE ANY KNOWN MATERIAL DEFECTS IN ANY OF THE FOLLOWING 54 STRUCTURAL SYSTEMS: FOOTINGS, BEAMS, GIRDERS, LINTELS, COLUMNS OR 55 PARTITIONS[.]? YES NO UNKN NA (IF YES, EXPLAIN BELOW)A. 1967 10 1 MECHANICAL SYSTEMS & SERVICES 2 [26.] 34. WHAT IS THE WATER SOURCE (CIRCLE ALL THAT APPLY - WELL, 3 PRIVATE, MUNICIPAL, OTHER)? IF MUNICIPAL, IS IT METERED? YES NO 4 UNKN NA 5 [27.] 35. HAS THE WATER QUALITY AND/OR FLOW RATE BEEN TESTED? YES NO 6 UNKN NA (IF YES, DESCRIBE BELOW) 7 [28.] 36. WHAT IS THE TYPE OF SEWAGE SYSTEM (CIRCLE ALL THAT APPLY - 8 PUBLIC SEWER, PRIVATE SEWER, SEPTIC OR CESSPOOL)? IF SEPTIC OR 9 CESSPOOL, AGE? ________ DATE LAST PUMPED? ________ FREQUENCY OF 10 PUMPING? ________ ANY KNOWN MATERIAL DEFECTS? YES NO UNKN NA (IF 11 YES, EXPLAIN BELOW) 12 [29.] 37. WHO IS YOUR ELECTRIC SERVICE PROVIDER? ________ WHAT IS THE 13 AMPERAGE? ________ DOES IT HAVE CIRCUIT BREAKERS OR FUSES? 14 ________ PRIVATE OR PUBLIC POLES? ________ ANY KNOWN MATERIAL 15 DEFECTS? YES NO UNKN NA (IF YES, EXPLAIN BELOW) 16 [30.] 38. ARE THERE ANY FLOODING, DRAINAGE OR GRADING PROBLEMS THAT 17 RESULTED IN STANDING WATER ON ANY PORTION OF THE PROPERTY? YES NO 18 UNKN NA (IF YES, STATE LOCATIONS AND EXPLAIN BELOW) 19 [31. DOES THE BASEMENT HAVE SEEPAGE THAT RESULTS IN STANDING WATER?20YES NO UNKN NA (IF YES, EXPLAIN BELOW)] 39. HAS THE STRUCTURE(S) 21 EXPERIENCED ANY WATER PENETRATION OR DAMAGE DUE TO SEEPAGE OR A 22 NATURAL FLOOD EVENT, SUCH AS FROM HEAVY RAINFALL, COASTAL STORM 23 SURGE, TIDAL INUNDATION OR RIVER OVERFLOW? YES NO UNKN NA (IF 24 YES, EXPLAIN BELOW) 25 ARE THERE ANY KNOWN MATERIAL DEFECTS IN ANY OF THE FOLLOWING (IF YES, 26 EXPLAIN BELOW. USE ADDITIONAL SHEETS IF NECESSARY.): 27 [32.] 40. PLUMBING SYSTEM? YES NO UNKN NA 28 [33.] 41. SECURITY SYSTEM? YES NO UNKN NA 29 [34.] 42. CARBON MONOXIDE DETECTOR? YES NO UNKN NA 30 [35.] 43. SMOKE DETECTOR? YES NO UNKN NA 31 [36.] 44. FIRE SPRINKLER SYSTEM? YES NO UNKN NA 32 [37.] 45. SUMP PUMP? YES NO UNKN NA 33 [38.] 46. FOUNDATION/SLAB? YES NO UNKN NA 34 [39.] 47. INTERIOR WALLS/CEILINGS? YES NO UNKN NA 35 [40.] 48. EXTERIOR WALLS OR SIDING? YES NO UNKN NA 36 [41.] 49. FLOORS? YES NO UNKN NA 37 [42.] 50. CHIMNEY/FIREPLACE OR STOVE? YES NO UNKN NA 38 [43.] 51. PATIO/DECK? YES NO UNKN NA 39 [44.] 52. DRIVEWAY? YES NO UNKN NA 40 [45.] 53. AIR CONDITIONER? YES NO UNKN NA 41 [46.] 54. HEATING SYSTEM? YES NO UNKN NA 42 [47.] 55. HOT WATER HEATER? YES NO UNKN NA 43 [48.] 56. THE PROPERTY IS LOCATED IN THE FOLLOWING SCHOOL DISTRICT 44 UNKN NOTE: BUYER IS ENCOURAGED TO CHECK PUBLIC RECORDS CONCERNING 45 THE PROPERTY (E.G. TAX RECORDS AND WETLAND AND [FLOOD PLAIN] FEMA'S 46 CURRENT FLOOD INSURANCE RATE MAPS AND ELEVATION CERTIFICATES) 47 THE SELLER SHOULD USE THIS AREA TO FURTHER EXPLAIN ANY ITEM ABOVE. IF 48 NECESSARY, ATTACH ADDITIONAL PAGES AND INDICATE HERE THE NUMBER OF ADDI- 49 TIONAL PAGES ATTACHED. 50 ______________________________________________________________ 51 ______________________________________________________________ 52 ______________________________________________________________ 53 ______________________________________________________________ 54 SELLER'S CERTIFICATION: SELLER CERTIFIES THAT THE INFORMATION IN THIS 55 PROPERTY CONDITION DISCLOSURE STATEMENT IS TRUE AND COMPLETE TO THE 56 SELLER'S ACTUAL KNOWLEDGE AS OF THE DATE SIGNED BY THE SELLER. IF AA. 1967 11 1 SELLER OF RESIDENTIAL REAL PROPERTY ACQUIRES KNOWLEDGE WHICH RENDERS 2 MATERIALLY INACCURATE A PROPERTY CONDITION DISCLOSURE STATEMENT PROVIDED 3 PREVIOUSLY, THE SELLER SHALL DELIVER A REVISED PROPERTY CONDITION 4 DISCLOSURE STATEMENT TO THE BUYER AS SOON AS PRACTICABLE. IN NO EVENT, 5 HOWEVER, SHALL A SELLER BE REQUIRED TO PROVIDE A REVISED PROPERTY CONDI- 6 TION DISCLOSURE STATEMENT AFTER THE TRANSFER OF TITLE FROM THE SELLER TO 7 THE BUYER OR OCCUPANCY BY THE BUYER, WHICHEVER IS EARLIER. 8 SELLER__________ DATE___________ 9 SELLER__________ DATE___________ 10 BUYER'S ACKNOWLEDGMENT: BUYER ACKNOWLEDGES RECEIPT OF A COPY OF THIS 11 STATEMENT AND BUYER UNDERSTANDS THAT THIS INFORMATION IS A STATEMENT OF 12 CERTAIN CONDITIONS AND INFORMATION CONCERNING THE PROPERTY KNOWN TO THE 13 SELLER. IT IS NOT A WARRANTY OF ANY KIND BY THE SELLER OR SELLER'S AGENT 14 AND IS NOT A SUBSTITUTE FOR ANY HOME, PEST, RADON OR OTHER INSPECTIONS 15 OR TESTING OF THE PROPERTY OR INSPECTION OF THE PUBLIC RECORDS. 16 BUYER__________ DATE__________ 17 BUYER__________ DATE _________ 18 § 3. Section 465 of the real property law, as added by chapter 456 of 19 the laws of 2001, is amended to read as follows: 20 § 465. [Remedy] Liability. 1. [In the event a seller fails to perform21the duty prescribed in this article to deliver a disclosure statement22prior to the signing by the buyer of a binding contract of sale, the23buyer shall receive upon the transfer of title a credit of five hundred24dollars against the agreed upon purchase price of the residential real25property.] Nothing contained in this article shall be construed as 26 limiting any existing legal cause of action or remedy at law, in statute 27 or in equity. 28 2. Any seller who provides a property condition disclosure statement 29 or provides or fails to provide a revised property condition disclosure 30 statement shall be liable only for a willful failure to perform the 31 requirements of this article. For such a willful failure, the seller 32 shall be liable for the actual damages suffered by the buyer in addition 33 to any other existing equitable or statutory remedy. 34 § 4. Section 467 of the real property law is REPEALED. 35 § 5. This act shall take effect on the one hundred eightieth day after 36 it shall have become a law. Effective immediately the addition, amend- 37 ment and/or repeal of any rule or regulation necessary for the implemen- 38 tation of this act on its effective date are authorized to be made and 39 completed on or before such date.
A01967 LFIN:
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A01967 Chamber Video/Transcript:
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