You can download a copy of this disclosure form here:
This disclosure is required by New York law for standalone 1-4 family homes, but not condominiums, co-ops, vacant land, or property part of a homeowner’s association not owned by the seller.
What is the Penalty for Not Completing the Disclosure?
The state law has changed on this form. If it is after to March 20, 2024, you must use the new form and the $500 opt-out option is not allowed.
When Should I Provide the Disclosure to the Buyer?
Deliver the disclosure and have the buyer sign it and include it with their offer.
Are There Any Property Transfers That Are Exempt?
Yes, for a complete updated list see here. As of the time of this writing, exemptions include:
- transfer ordered by the court in a lawsuit such as a probate, mortgage foreclosure, bankruptcy, legal partition, or divorce
- transfer to your lender to satisfy your mortgage or prevent a foreclosure
- transfer made to distribute the property of a decedent's estate or trust, or made during the administration of a guardianship or conservatorship
- transfer to another co-owner of the property, or to your spouse or a relative from a common ancestor, such as a parent, grandparent, child or grandchild
- transfer that has not been ordered by a court, but is part of the settlement of a divorce, annulment, or legal separation
- transfer to the state of New York, or any other unit of local government, whether part of a condemnation, or not, and
- transfer of newly constructed property that has never been inhabited.
Comments
2 comments
how do i upload the property disclosure?
If you have not yet submitted the listing, you can upload it in the "Photos & Documents" section of the MLS listing (see screenshot below).
If you have already submitted the listing, you can submit an MLS change request in the Manage step (see screenshot below).
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