Definitions
- Statute:
- New York §472 · Law RPP (Real Property Law)
- Topic:
- Definitions · Glossary
- Applies to:
- HOA associations
Defines private transfer fee obligation and related terms. Does not include fees payable to an HOA or condominium for common expenses or association use.
📄 Read the official text at nysenate.gov →
How SoShiny helps with Definitions
SoShiny implements these statutory definitions across the platform — when a section refers to "unit owner," "member," "voting interest," or "official record," SoShiny uses the same definition in the data model.
See the feature → Start freeFrequently asked
- What does New York §472 require?
- Defines private transfer fee obligation and related terms. Does not include fees payable to an HOA or condominium for common expenses or association use.
- Who does New York §472 apply to?
- New York §472 applies to HOA associations in New York.
- What happens if our condo or HOA doesn't comply with §472?
- Non-compliance with this New York statute can expose the association and its officers to private civil suit, and (for offering-plan / sponsor matters under GBS) to enforcement action by the New York Attorney General's Real Estate Finance Bureau. SoShiny's audit trail and documented workflows are designed to demonstrate good-faith compliance.
- Where can I read the official text of New York §472?
- The official text is published by the New York State Legislature at nysenate.gov. The summary on this page is for plain-English reference only and is not legal advice.
- How does SoShiny help with Definitions?
- SoShiny implements these statutory definitions across the platform — when a section refers to "unit owner," "member," "voting interest," or "official record," SoShiny uses the same definition in the data model. Learn more →
Not legal advice. This page is a plain-English summary of New York §472 prepared by SoShiny for board members and managers. For binding legal advice or interpretation, consult a New York-licensed attorney. For the official statutory text, see the link above.
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