N.Y.
Real Property Law Section 339-EE
Effect of other laws
1.
All units of a property which shall be submitted to the provisions of this article shall be deemed to be cooperative interests in realty within the meaning of General Business Law § 352-E (Real estate syndication offerings)section three hundred fifty-two-e of the general business law. article 9-A (Subdivided Lands)Article nine-A of this chapter shall not apply to the property or any unit. Article eleven of the tax law shall not apply to declarations or any lien for common charges provided for in this article. Any provision of the multiple dwelling law, the multiple residence law, or any state building construction code as to multiple residences pursuant to the provisions of article eighteen of the executive law, requiring registration by the owner or other person having control of a multiple dwelling shall be deemed satisfied in the case of a property submitted to the provisions of this article by registration of the board of managers, such registration to include the name of each unit owner and the designation of his or her unit; each unit owner shall be deemed the person in control of the unit owned by him or her, and the board of managers shall be deemed the person in control of the common elements, for purposes of enforcement of any such law or code, provided, however, that all other provisions of the multiple dwelling law or multiple residence law, otherwise applicable, shall be in full force and effect, and provided further that in a city with a population of one million or more persons registration required by a housing maintenance code of such city shall be deemed satisfied in the case of a property submitted to the provisions of this article by registration of the board of managers which need not include the name of each unit owner and the designation of his or her unit.2.
In the event the proceeds of a construction mortgage were applied to construction of a unit of a condominium submitted to the provisions of this article, or in the event that a unit submitted to the provisions of this act was subject to a blanket mortgage whose proceeds were applied exclusively to payment of the construction mortgage or to capital expenditures or expenses for the development or operation of the condominium, or to purchase of land or buildings for the condominium provided that such purchase was no more than two years prior to the recording of the declaration of condominium, and a mortgage recording tax was duly paid on such construction or blanket mortgage in accordance with article eleven of the tax law, then, as each unit is first conveyed, there shall be allowed a credit against the mortgage recording taxes (except the special additional mortgage recording tax imposed by subdivision one-a of Tax Law § 253 (Recording tax)section two hundred fifty-three of the tax law) that would otherwise be payable on a purchase money mortgage, said credit to be in the amount resulting from the product of the purchaser’s pro rata percentage of interest in the common elements and the mortgage tax already paid on the construction or blanket mortgage. No credit shall be allowed under this subdivision (a) on account of the special additional mortgage recording tax imposed by subdivision one-a of Tax Law § 253 (Recording tax)section two hundred fifty-three of the tax law or (b) where the first condominium unit is sold more than two years after the construction or blanket mortgage was recorded.3.
Unless specifically exempted by a provision of this article, all property subject to the provisions of this article shall continue to be subject to all laws, rules and resolutions adopted by any county, city, town or village for the health, safety and welfare of its inhabitants or for regulation of the use of real property. Every county, city, town and village shall continue to have all enforcement powers created by such laws, rules or resolutions or the enabling acts of such laws, rules and resolutions and may exercise those enforcement powers against any violation involving property subject to the provisions of this article.4.
Any estimate of tax liability required by any rule adopted pursuant to this article shall not be binding upon any municipality or public official and any document containing such an estimate shall contain a notice to that effect.
Source:
Section 339-EE — Effect of other laws, https://www.nysenate.gov/legislation/laws/RPP/339-EE (updated Sep. 22, 2014; accessed Oct. 26, 2024).
