19 NYCRR Part 135 - Department of State

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Source version current through Apr 15, 2022

All 14 displayed sections in this Part carry the same compiled date. Status and warnings stay on each section.

19 NYCRR 135.1 - Filing statement and related documents

Later State Register activity may affect this section.

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Dates and status

NYCRR title agency: Department of State
Section status: Section source receipt
Source version current through: Apr 15, 2022

(a)General.

The filing statement shall contain or be accompanied by all of the items of information required by Real Property Law, sections 337-a and 338(4). The filing statement shall also be accompanied by the offering statement required by Real Property Law, section 337-b.

(b)Maps.

Submitted maps must comply with Real Property Law, section 337-a(8).

19 NYCRR 135.2 - Offering statement

Later State Register activity may affect this section.

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Dates and status

NYCRR title agency: Department of State
Section status: Section source receipt
Source version current through: Apr 15, 2022

(a)

(1)Pursuant to the authority granted under Real Property Law, section 337-b(2), the Department of State designates, except and to the extent set forth in paragraph (2) of this subdivision, the information listed in section 337-b, subdivision one, (a) through (f) of the Real Property Law, as not being necessary or appropriate in the public interest or for the protection of purchasers, and such information therefore may be omitted from the offering statement.

(2)The offering statement shall include the name and address of the subdivider, and a description and identification of the subdivision reasonably sufficient to locate the property.

(b)The offering statement shall conspicuously include the following statement:

“Any purchase of land can involve significant financial and legal risks. Risks can include possible problems with title, overpricing, land use limitations, and many other issues. Prospective buyers should evaluate those risks by consulting with their own attorney, real estate appraiser, or other qualified professional.”

12-point, or larger, bold type, on the first page of the offering statement will normally be considered as conspicuous.

(c)The first page of the offering statement must include the statement required by Real Property Law, section 337-b(5).

19 NYCRR 135.3 - Inspections

Later State Register activity may affect this section.

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Dates and status

NYCRR title agency: Department of State
Section status: Section source receipt
Source version current through: Apr 15, 2022

(a)Any inspection of any lots by the department shall be confined to the property embraced and described in the filing statement. An inspection, when performed, shall be for the purpose of ascertaining to a greater degree the veracity and reliability of the information provided in the filing statement, the offering statement and related material. When an inspection is performed, the offeror shall make every reasonable effort, consistent with geographic and climatic conditions and the extent of existing development, to make all lots accessible to the inspector, and to provide such other and related information as may be reasonably requested.

(b)Where an offeror has paid to the department the monies covering the costs and expenses required under article 9-A for the performance of an inspection and the offeror has:

(1)withdrawn its filing prior to such inspection; or

(2)submitted additional filings for additional lots or units consolidated with the original offering and the department has inspected such consolidated properties simultaneously; or

(3)the department determines thereafter not to conduct an inspection, then in any of such events and upon written request therefor by the offeror, the department shall render to the offeror an accounting of the actual expenses incurred, and shall refund any such monies not actually used for such purpose, subject to approval by the State Comptroller.