Requires certain information to be provided on a real property transfer form; requires limited liability companies to provide certain information when purchasing real property.
TITLE OF BILL: An act to amend the real property law, in relation to clarifying information collected on a real property transfer form
PURPOSE: This legislation would change the Real Property Law to make available necessary information including names and addresses of members of limited liability corporations to local municipalities to assist them in their efforts to enforce codes, properly administer the assessment process and collect judgments and taxes.
SUMMARY OF PROVISIONS: Section 1 amends subparagraph 7 and 8 of subparagraph ii of subdivision 1-e of section 333 of the real property law, as amended by section 1 of part B of Chapter 57 of the laws of 2004 and adds two new subparagraphs 9 and 10 to require that a purchaser of a parcel, in the event it is a limited liability company, corporation or other such entity, must include the name of a company, the place of business of the company, the name of a responsible party who has an interest in the company, and a telephone number where such responsible party may be contacted.
Such requirements would apply to all counties in New York State, including those comprising New York City.
EXISTING LAW: Existing law does not require that member(s) of a LLC execute articles of organization, specify actual place of business, or that the members of such LLC be listed.
JUSTIFICATION: Residential properties are routinely acquired by Limited Liability Companies (LLCs) and often the buyer's signature on the real property transfer form (RP-5217) is illegible, with a post office box provided for the address. Current law does not require that members of a LLC or the LLC's actual place of business be listed on such forms.
As a result of these oversights in the current Real Property law, serious problems frequently arise for municipal code enforcement and assessment officials in carrying out the enforcement of the housing code, collection of fines and judgments, and delinquent tax collection. This inability to contact or provide legal service of notices to an individual responsible for the property seriously affects the quality of life in neighborhoods with multiple properties owned by LLC's.
LEGISLATIVE HISTORY: 2011-2012 (S.1409) Referred to Judiciary 2009-2010 (S.5062) Referred to Judiciary
LOCAL FISCAL IMPLICATIONS: None.
EFFECTIVE DATE: This act shall take effect 180 days after it shall have become law.
STATE OF NEW YORK ________________________________________________________________________ 1268 2013-2014 Regular Sessions IN SENATE (PREFILED) January 9, 2013 ___________Introduced by Sen. PERKINS -- 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 clarifying infor- mation collected on a real property transfer form THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Subparagraphs 7 and 8 of paragraph ii of subdivision 1-e of section 333 of the real property law, as amended by section 1 of part B of chapter 57 of the laws of 2004, are amended and two new subparagraphs 9 and 10 are added to read as follows: (7) in the event the parcel conveyed by such deed is a portion of the parcel owned by the transferor or transferors, a statement indicating whether the city, town or village in which such property is situated has a planning board or other entity empowered to approve subdivisions;
[and](8) in the event such planning board or other entity is empowered to approve subdivisions, a statement indicating whether the parcel conveyed by such deed is (a) not subject to such subdivision approval or (b) such subdivision has been approved by the respective city, town or village planning board or other entity empowered to approve subdivisions [.]; (9) IN THE EVENT THAT THE PURCHASER IS (A) AN INDIVIDUAL, A LIMITED LIABILITY COMPANY, SOCIETY, ASSOCIATION, JOINT STOCK COMPANY, CORPO- RATION, ESTATE, RECEIVER, TRUSTEE, ASSIGNEE, REFEREE, OR ANY OTHER PERSON ACTING IN A FIDUCIARY CAPACITY, AND (B) THE PROPERTY BEING PURCHASED IS LOCATED IN THIS STATE, THE NAME AND PLACE OF BUSINESS OF THE COMPANY, SOCIETY, ASSOCIATION, JOINT STOCK COMPANY, CORPORATION, ESTATE, RECEIVER, TRUSTEE, ASSIGNEE, REFEREE, OR ANY OTHER PERSON ACTING IN A FIDUCIARY CAPACITY, THE NAME OF A RESPONSIBLE PARTY WHO HAS AN INTEREST IN THE COMPANY, SOCIETY, ASSOCIATION, JOINT STOCK COMPANY, CORPORATION, ESTATE, RECEIVER, TRUSTEE, ASSIGNEE, REFEREE, OR ANY OTHEREXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD02708-01-3 S. 1268 2
PERSON ACTING IN A FIDUCIARY CAPACITY, AND A PHONE NUMBER WHERE SUCH RESPONSIBLE PARTY MAY BE CONTACTED. ANY PERSON SUPPLYING SUCH INFORMA- TION MUST USE HIS OR HER LEGAL NAME. SUCH INFORMATION MUST BE EITHER TYPED OR CLEARLY PRINTED. IN THE EVENT A PERSON ERRONEOUSLY TYPED OR DID NOT CLEARLY PRINT HIS OR HER LEGAL NAME, THE COUNTY CLERK MAY CHARGE A CONVENIENCE FEE OF TWENTY DOLLARS TO AMEND THE TRANSFER REPORT; AND (10) A SWORN AFFIDAVIT, SUBSCRIBED TO BY THE PURCHASER, STATING THAT THE INFORMATION PROVIDED PURSUANT TO THIS PARAGRAPH IS TRUE TO THE BEST KNOWLEDGE OF THE AFFIANT. S 2. This act shall take effect on the one hundred eightieth day after it shall have become a law. Effective immediately the office of real property services may amend, add, or repeal any rule or regulation necessary for the timely implementation of this act on its effective date.