Disclosure of private transfer fee obligations
- Statute:
- New York §474 · Law RPP (Real Property Law)
- Topic:
- Records & Disclosure · Disclosure
- Applies to:
- HOA associations
Sellers must disclose any private transfer fee obligation in writing. A buyer not given written disclosure may cancel the contract.
📄 Read the official text at nysenate.gov →
How SoShiny helps with Disclosure of private transfer fee obligations
SoShiny gives every owner instant, permissioned access to the official records this statute requires — searchable, audit-logged, and exportable for state inspections. The records survive every board turnover because they live in one place, not in someone's inbox.
See the feature → Start freeFrequently asked
- What does New York §474 require?
- Sellers must disclose any private transfer fee obligation in writing. A buyer not given written disclosure may cancel the contract.
- Who does New York §474 apply to?
- New York §474 applies to HOA associations in New York.
- What happens if our condo or HOA doesn't comply with §474?
- 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 §474?
- 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 Disclosure of private transfer fee obligations?
- SoShiny gives every owner instant, permissioned access to the official records this statute requires — searchable, audit-logged, and exportable for state inspections. The records survive every board turnover because they live in one place, not in someone's inbox. Learn more →
Not legal advice. This page is a plain-English summary of New York §474 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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