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S05400 Summary:

BILL NOS05400
 
SAME ASSAME AS A01967
 
SPONSORHOYLMAN-SIGAL
 
COSPNSR
 
MLTSPNSR
 
Amd §§462 & 465, rpld §467, RP L
 
Requires disclosure of information concerning flood insurance on property condition disclosure statements; relates to liability with respect to property disclosures.
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S05400 Text:



 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                          5400
 
                               2023-2024 Regular Sessions
 
                    IN SENATE
 
                                      March 3, 2023
                                       ___________
 
        Introduced  by Sen. HOYLMAN-SIGAL -- read twice and ordered printed, and
          when printed to be committed to the Committee 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.
                                                                   LBD04357-01-3

        S. 5400                             2

     1  TRANSFER OF TITLE. [IN THE EVENT A SELLER  FAILS  TO  PERFORM  THE  DUTY
     2  PRESCRIBED  IN  THIS  ARTICLE TO DELIVER A DISCLOSURE STATEMENT PRIOR TO
     3  THE SIGNING BY THE BUYER OF A BINDING CONTRACT OF SALE, THE BUYER  SHALL
     4  RECEIVE  UPON  THE  TRANSFER  OF  TITLE A CREDIT OF FIVE HUNDRED DOLLARS
     5  AGAINST THE AGREED UPON PURCHASE PRICE OF THE RESIDENTIAL  REAL  PROPER-
     6  TY.]
     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  ENVIRONMENTAL

        S. 5400                             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)

        S. 5400                             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)

        S. 5400                             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?
    23        YES 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)

        S. 5400                             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  DUTY
    48  PRESCRIBED  IN  THIS  ARTICLE TO DELIVER A DISCLOSURE STATEMENT PRIOR TO
    49  THE SIGNING BY THE BUYER OF A BINDING CONTRACT OF SALE, THE BUYER  SHALL
    50  RECEIVE  UPON  THE  TRANSFER  OF  TITLE A CREDIT OF FIVE HUNDRED DOLLARS

        S. 5400                             7

     1  AGAINST THE AGREED UPON PURCHASE PRICE OF THE RESIDENTIAL  REAL  PROPER-
     2  TY.]
     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 PERSONAL

        S. 5400                             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)

        S. 5400                             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)

        S. 5400                            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?
    20        YES 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  A

        S. 5400                            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 perform
    21  the  duty  prescribed  in this article to deliver a disclosure statement
    22  prior to the signing by the buyer of a binding  contract  of  sale,  the
    23  buyer  shall receive upon the transfer of title a credit of five hundred
    24  dollars against the agreed upon purchase price of the  residential  real
    25  property.]  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.
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