BILL NUMBER: S7541
SPONSOR: BYNOE
 
TITLE OF BILL:
An act to amend the real property law, in relation to establishing tran-
sparency guidelines for condominiums and cooperative housing units
 
PURPOSE OR GENERAL IDEA OF BILL:
To require condominium and cooperative housing associations' board of
managers and/or property management companies to provide information on
engineering reports, inspections, and permits to unit owners and to
municipalities when applicable.
 
SUMMARY OF SPECIFIC PROVISIONS:
Section 1 provides the legislative intent of this bill.
Section 2 adds definitions specific to the Condominium Law for
"Inspections", "Engineering Reports" and "Permits"
Section 3 adds inspections, engineering reports, and permits to the list
of items that must be filed with the Board of Managers and provided to
unit owners digitally and physically.
Section 4 establishes reporting requirements that any buyer shall
receive a copy of any engineering report, inspection, or permits cover-
ing their unit. Any prospective buyer would have the right to review
these same documents. While any inspection or engineering report
completed for a condominium or cooperative housing association would be
required to be filed with the local building, health or code enforcement
office. Any permit granted by a municipality for any condominium or
cooperative housing association would be required to be made available
to all unit owners and the board of managers.
Section 3 provides the effective date.
 
JUSTIFICATION:
Currently, there is no legal requirement that condominium and cooper-
ative housing associations' board of managers must provide unit owners
with copies of any engineering report, permit or inspection that has
been completed for the property they oversee. This bill would require
boards of managers to file and maintain records related to engineering
reports, permits and inspections, and to provide those reports, as well
as the bylaws, floor plans, the declaration and any rules or regulations
to unit owners digitally and physically.
In addition, buyers do not have an express written consent to be able to
receive any such copies of inspections or engineering reports for the
subject property, this bill ensures that prospective buyers both would
have the right to request such form and to receive these forms upon the
acquisition of a housing unit. These reports shall also be required to
be submitted with municipal building, health, fire or code enforcement
as relevant, so that these municipalities to have better communication
with condominium and cooperative housing associations should any struc-
tural, mechanical or health issues arise, which would endanger or cause
the evacuation of residents in these communities.
 
PRIOR LEGISLATIVE HISTORY:
New Legislation
 
FISCAL IMPLICATIONS:
None to New York State.
 
EFFECTIVE DATE:
This act shall take effect on the one hundredth and eightieth day after
it shall have become a law.

Statutes affected:
S7541: 339-e real property law, 339-q real property law