N.Y.
Private Housing Finance Law Section 30
Transfer of real property
1.
Notwithstanding any requirement of law to the contrary, every executor, administrator, trustee, guardian or other person, holding trust funds or acting in a fiduciary capacity, unless the instrument under which such fiduciary is acting expressly forbids, the state, its subdivisions, municipalities, all other public bodies, all public officers, persons, partnerships and corporations organized under and governed as to investments by or pursuant to the provisions of the banking law or organized under or subject to the provisions of the insurance law, the superintendent of financial services as conservator, liquidator or rehabilitator of any such person, partnership or corporation, owning or holding any real property may grant, sell, lease or otherwise transfer any such real property to a company and receive and hold any cash, stock, bonds, notes, mortgages, or other securities or obligations, secured or unsecured, exchanged therefor by such company and may execute such instruments and do such acts as may be deemed necessary or desirable by them or it and by the company in connection with a project or projects. Notwithstanding the provisions of any general, special or local law, charter or ordinance, such grant, sale, lease or transfer may be made without public auction or bidding.2.
Any banking institution, foundation, labor union, employers’ association, veterans’ organization or insurance company, or any group thereof, which has undertaken a project through direct ownership or lease may transfer to the project any real property which it owns or holds within an area. The market value of such property, as approved by the commissioner or the supervising agency, as the case may be, shall be included in the estimated or actual project cost.3.
Notwithstanding the provisions of any general, special or local law, charter or ordinance, the local legislative body of a city having a population of one million or more may, upon the request of or with the approval of the board of education of such city’s school district, grant, sell, lease or otherwise transfer any lands or rights or interests therein or thereto, including fee interest, easements, space rights or air rights or other rights or interests owned by such city and occupied or reserved for school purposes and needed therefor, to a company where necessary for the joint development of a project and a school or appurtenant facilities without public auction or bidding, provided that no such sale, lease or transfer of lands or rights therein or thereto is authorized where the development of a project contemplates the erection of housing facilities over an existing school or playground. The term of any such lease shall not be limited by any provision of any general, special or local law or charter applicable to such city limiting the period of time during which a lease or any renewal thereof may run.
Source:
Section 30 — Transfer of real property, https://www.nysenate.gov/legislation/laws/PVH/30 (updated Sep. 22, 2014; accessed Dec. 21, 2024).
