NY State — NY Real Property Law

§ 242 — SECTION 242 Disclosure prior to the sale of real property

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Statute text reproduced from nysenate.gov. Not attorney-reviewed for your situation — for reference only.

What is NY RPL § 242?

Quick Answer

This section mandates that sellers of real property disclose specific information to prospective purchasers prior to accepting offers. Required disclosures include the absence of utility electric service, utility surcharges, the presence of uncapped natural gas wells, and any applicable green jobs-green New York on-bill recovery charges. Applies to individuals and entities selling real property.

General informational summary. Not legal advice for your situation. Consult an attorney before acting on any specific matter.

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§ 242 SECTION 242 Disclosure prior to the sale of real property

RPL § 242

1.

(a)Any person, firm, company, partnership or corporation offering to sell real property to which no utility electric service is provided shall provide written notice to the prospective purchaser or to the prospective purchaser's agent, clearly indicating this fact. Such notice shall be provided prior to accepting a purchase offer.

(b)Any prospective or actual purchaser who has suffered a loss due to a violation of this section is entitled to recover any actual damages incurred from the person offering to sell said real property.

(c)The provisions of this subdivision shall not apply in instances where the real property being sold lies within the applicable free footage allowance or service lateral specified by the public service commission in rule, regulation or public utility tariff.

2.Disclosure prior to the sale of real property to which utility surcharge payments attach.

3.Any person, firm, company, partnership or corporation offering to sell real property on which uncapped natural gas wells are situated, and of which such person, firm, company, partnership or corporation has actual knowledge, shall inform any purchaser of the existence of these wells prior to entering into a contract for the sale/purchase of such property.

4.Disclosure prior to the sale of real property to which a green jobs-green New York on-bill recovery charge applies.

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