N.Y. Not-for-Profit Corporation Law Section 205
Conveyance of real property to members for dwelling houses

A not-for-profit corporation, if its by-laws so provide, and pursuant to the provisions thereof, and without leave of the court, may convey to a member of the corporation a portion of its real property for the erection thereupon of a cottage or other dwelling-house with suitable outbuildings. When so conveyed the title to such portion, together with the buildings thereon, shall continue in such member and on his death pass to his heirs or devisees, but the land shall not be alienable except to the corporation or to a member thereof.

Source: Section 205 — Conveyance of real property to members for dwelling houses, https://www.­nysenate.­gov/legislation/laws/NPC/205 (updated Sep. 22, 2014; accessed Oct. 26, 2024).

Green check means up to date. Up to date

Accessed:
Oct. 26, 2024

Last modified:
Sep. 22, 2014

§ 205’s source at nysenate​.gov

Link Style