Validity of private transfer fee obligations
- Statute:
- New York §473 · Law RPP (Real Property Law)
- Topic:
- Member Rights · Validity
- Applies to:
- HOA associations
Private transfer fee obligations recorded after the effective date of the article are void and unenforceable. Existing obligations remain valid only if a notice complying with §475 is recorded by the effective date.
📄 Read the official text at nysenate.gov →
How SoShiny helps with Validity of private transfer fee obligations
SoShiny tracks every member, owner, and renter at the unit level with the contact details and access rights this statute protects. Privacy-respecting by default, with statutory directory disclosures and opt-outs handled per-member.
See the feature → Start freeFrequently asked
- What does New York §473 require?
- Private transfer fee obligations recorded after the effective date of the article are void and unenforceable. Existing obligations remain valid only if a notice complying with §475 is recorded by the effective date.
- Who does New York §473 apply to?
- New York §473 applies to HOA associations in New York.
- What happens if our condo or HOA doesn't comply with §473?
- 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 §473?
- 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 Validity of private transfer fee obligations?
- SoShiny tracks every member, owner, and renter at the unit level with the contact details and access rights this statute protects. Privacy-respecting by default, with statutory directory disclosures and opt-outs handled per-member. Learn more →
Not legal advice. This page is a plain-English summary of New York §473 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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