Property Condition Disclosure Statement
New York Real Property Law Article 14 requires many sellers of "residential real property" (generally 1-4 family dwellings in fee simple, excluding condo units and co-op apartments) to deliver a property condition disclosure statement to the buyer or buyer's agent before the buyer signs a binding contract, and to attach a signed copy to the contract. The law frames the disclosure as information known to the seller and not a warranty, and it identifies exemptions and liability concepts in the statute.
- Where it applies
- New York State
- When it comes up
- Contract
- Property types
- Residential Sales (1-4 family fee simple)
In practice
New York State has issued practitioner-facing updates on form requirements and effective dates for revised disclosure forms.
Read more in the Knowledge Base
- Property Condition Disclosure Statement - Statewide Property QuestionsSellers
- Property Condition Disclosure Statement - Current RPAPL §462 ComplianceSellers
- Seller Disclosure Obligations in New York - A Safe Operating RuleSellers
- Environmental Disclosure - Lead Paint, Tanks, Radon, and AsbestosSellers
- Post-Closing Survival of Representations in New York's Caveat Emptor FrameworkBuyers
Related terms
Seller DisclosureAs-Is SaleInspectionReal Property Law Article 14
Residential Sales Terms
- Agency Disclosure
- Appraisal
- Attorney Review Period
- Best and Final Offer
- Earnest Money Deposit
- Mortgage Contingency
- Offer (Purchase Offer)
- Transfer Taxes (NYS RETT, Mansion Tax, NYC RPTT)
General information, not legal, tax or financial advice.