What Buyers, Sellers, Landlords and Real Estate Investors Need to Know
Buying, selling, renting or investing in New York real estate involves state laws, local regulations, disclosure requirements, licensing rules, building codes, zoning regulations and, in many areas, additional municipal requirements.
New York’s real estate laws can be substantially different from those in neighboring states such as New Jersey, Connecticut, Pennsylvania, Maryland and Virginia.
This guide provides an overview of important New York real estate laws affecting residential buyers, sellers, landlords, tenants, investors and real estate professionals.
Important: This page is provided for general educational purposes and is not legal advice. New York laws change frequently, and individual properties may be subject to county, city, town or village requirements.
What is New York's Property Condition Disclosure Act?
One of the most important New York residential real estate laws is the Property Condition Disclosure Act, found in Article 14 of the New York Real Property Law.
Under Real Property Law §462, a seller of covered residential property generally must complete and sign the statutory Property Condition Disclosure Statement and deliver it to the buyer or buyer’s agent before the buyer signs a binding contract of sale.
The disclosure concerns the seller’s actual knowledge of various conditions affecting the property.
What does the disclosure cover?
The statutory disclosure addresses subjects including:
- Structural problems
- Roof conditions
- Water penetration
- Plumbing
- Electrical systems
- Heating and cooling
- Septic systems
- Water supply
- Flooding
- Environmental conditions
- Termites and other wood-destroying insects
- Hazardous materials
- Building violations
- Property conditions known to the seller
The disclosure is based on the seller’s actual knowledge, rather than requiring the seller to independently investigate every possible condition.
2. Does a New York Seller Have to Provide a Disclosure?
Generally, yes.
For covered residential transactions, the seller must complete and provide the statutory Property Condition Disclosure Statement before the buyer signs a binding contract.
However, New York law contains a number of statutory exemptions.
The law applies primarily to residential property consisting of a one-to-four-family dwelling used or intended to be used as a residence.
Certain condominiums, cooperative apartments and other properties are treated differently under the statute.
What is New York's Property Condition Disclosure Statement?
The New York Property Condition Disclosure Statement is not a home inspection.
It is a statement of conditions and information known to the seller.
The statutory form itself makes clear that the disclosure is not a warranty and is not a substitute for:
- Home inspection
- Pest inspection
- Radon testing
- Other environmental testing
- Examination of public records
This distinction is extremely important for buyers.
What is the difference between Seller's Knowledge and Independent Inspection in New York disclosures?
The New York disclosure law generally focuses on what the seller actually knows.
The statutory definition of “knowledge” refers to the seller’s actual knowledge of a defect or condition.
Therefore, buyers should not assume that a “no” answer on a disclosure form means that an issue does not exist.
It means the seller is representing the information based on the seller’s knowledge.
Buyers should still conduct independent due diligence.
A buyer may want to obtain:
- Home inspection
- Pest inspection
- Radon testing
- Sewer inspection
- Oil-tank inspection
- Mold inspection
- Environmental testing
- Survey
- Title examination
What are the recent changes to New York Seller Disclosure requirements?
New York significantly changed its property disclosure requirements.
The old system allowed a seller in certain circumstances to choose not to provide the Property Condition Disclosure Statement and instead provide the buyer with a $500 credit at closing.
That system was eliminated by the 2024 legislation.
The current statute requires covered sellers to provide the disclosure statement, subject to the statutory exemptions.
This is an important change for New York sellers and real estate professionals.
6. What Happens if the Seller Learns New Information?
If a seller learns information after providing the disclosure that makes the disclosure materially inaccurate, New York law requires the seller to provide a revised disclosure statement as soon as practicable.
The statutory revision requirement generally ends upon transfer of title or occupancy by the buyer, whichever occurs first.
What are the exemptions to New York Property Disclosure requirements?
New York law contains exemptions from the Property Condition Disclosure Statement requirement.
Examples can include certain transfers:
- By court order
- Through foreclosure-related transactions
- From a fiduciary
- In certain estate transactions
- Between certain family members
- In other circumstances specifically identified by statute
The complete list should be reviewed in Real Property Law §463 before assuming that a transaction is exempt.
8. Does New York Require a Home Inspection?
No, generally not.
New York does not generally require every residential seller to obtain a home inspection before selling a property.
The buyer may hire a licensed home inspector.
New York separately regulates home inspection professionals under Real Property Law Article 12-B.
Buyers should consider inspecting:
- Foundation
- Roof
- Attic
- Basement
- Electrical
- Plumbing
- HVAC
- Windows
- Structure
- Drainage
- Appliances
- Exterior
Older New York properties may also warrant additional inspections.
9. Does New York Require a Radon Test?
Generally, no statewide requirement applies to every residential sale.
However, radon can be an important consideration for New York buyers.
A buyer may elect to obtain radon testing as part of the inspection and due-diligence process.
This can be particularly relevant to properties with:
- Basements
- Below-grade living areas
- Crawl spaces
- Limited ventilation
The statutory disclosure itself should not be treated as a substitute for independent radon testing.
What are the Lead-Based Paint disclosure requirements in New York?
Federal law generally requires lead-based paint disclosures for most residential properties constructed before 1978.
Covered transactions generally require sellers and landlords to:
- Disclose known lead-based paint information
- Provide available records
- Provide the required federal lead-paint information
- Provide the required opportunity for inspection or risk assessment
New York buyers purchasing older homes should therefore review both federal and state requirements.
What are the New York Agency Disclosure requirements?
New York has specific statutory requirements concerning disclosure of real estate agency relationships.
Real Property Law §443 establishes the disclosure requirements and statutory disclosure forms for residential transactions.
Depending upon the transaction, parties may encounter:
- Seller’s agent
- Buyer’s agent
- Broker’s agent
- Landlord’s agent
- Tenant’s agent
- Dual agent
- Designated sales agents
The agency relationship determines the duties owed by the real estate professional.
Is Dual Agency permitted in New York real estate transactions?
New York permits dual agency under specific circumstances.
However, the parties must provide the required informed consent.
New York law also provides for designated sales agents, in which different agents within the same brokerage can represent different parties in a transaction under the statutory framework.
Consumers should carefully review the agency disclosure before signing a representation agreement or proceeding with a transaction.
What are the duties of New York Real Estate Agents?
New York real estate agents owe fiduciary duties depending upon their agency relationship.
These duties can include:
- Reasonable care
- Loyalty
- Confidentiality
- Obedience
- Full disclosure
- Accountability
Agents also have duties concerning known facts materially affecting the value or desirability of property, subject to the applicable law and agency relationship.
Are deaths, crimes, or certain conditions at a property disclosable in New York?
New York has a specific statute addressing certain information that is not considered a material defect or fact requiring disclosure.
Under Real Property Law §443-a, certain facts involving:
- HIV/AIDS
- Certain diseases
- Homicide
- Suicide
- Accidental or natural death
- Certain crimes
are generally treated differently from ordinary physical property defects.
However, a buyer can make a written inquiry concerning these matters, and the seller may choose whether to respond as provided by statute.
What are New York's Fair Housing and Anti-Discrimination Laws?
New York has extensive fair housing and anti-discrimination laws.
Federal, state and local laws may prohibit discrimination based on protected characteristics.
These laws apply to:
- Selling
- Renting
- Advertising
- Showing property
- Financing
- Tenant screening
- Buyer qualification
- Negotiations
New York’s Human Rights Law contains protections applicable to real estate transactions and real estate professionals.
What are the key New York Landlord-Tenant Laws?
New York has extensive laws regulating residential rental properties.
Important areas include:
- Leases
- Rent
- Security deposits
- Repairs
- Habitability
- Evictions
- Tenant notices
- Rent regulation
- Tenant protections
- Housing discrimination
- Good-cause eviction rules where applicable
New York’s landlord-tenant laws can be particularly complicated because New York City and other municipalities may have additional requirements.
Are New York apartments subject to rent regulation?
Some New York apartments are subject to rent regulation.
Depending on the property and location, a rental may be subject to:
- Rent stabilization
- Rent control
- Local tenant protections
- Good-cause eviction requirements
- Other statutory protections
Before purchasing a multifamily property, investors should determine whether any units are subject to rent regulation.
This can have a major impact on:
- Rental income
- Lease renewals
- Rent increases
- Property value
- Operating expenses
- Investment returns
What is Good Cause Eviction in New York?
New York has enacted Good Cause Eviction protections that can apply to certain residential rental properties, subject to statutory exemptions and local implementation.
Landlords and investors should determine whether the property is covered before assuming that a lease can simply be terminated or a tenant removed at the end of a lease term.
Because exemptions can be important, investors should obtain legal advice concerning a specific property.
How are Security Deposits regulated in New York?
New York law regulates residential security deposits.
For many residential rental properties, a security deposit cannot exceed one month’s rent.
Landlords must also comply with statutory requirements concerning:
- Holding the deposit
- Notices
- Return of the deposit
- Deductions
- Damage
- Normal wear and tear
New York landlords should use current lease and security-deposit procedures rather than relying on an outdated form.
What should New York multifamily investors consider?
New York is a particularly important market for multifamily investors.
Before purchasing an apartment building, investors should conduct extensive due diligence.
Physical due diligence
Review:
- Roof
- Foundation
- Electrical
- Plumbing
- Heating
- Boilers
- Elevators
- Fire systems
- Windows
- Environmental conditions
- Lead
- Asbestos
- Mold
- Underground tanks
Legal due diligence
Review:
- Zoning
- Certificate of Occupancy
- Building violations
- Fire violations
- Permits
- Rent regulation
- Existing leases
- Local rental requirements
Financial due diligence
Review:
- Current rents
- Market rents
- Vacancy
- Taxes
- Insurance
- Utilities
- Repairs
- Capital expenditures
- Management
- Payroll
Why is a Certificate of Occupancy important in New York real estate?
New York buyers and investors should verify the property’s Certificate of Occupancy or other applicable legal-use documentation.
This can be particularly important for:
- Multifamily buildings
- Converted properties
- Finished basements
- Accessory apartments
- Mixed-use buildings
- Commercial properties
A property being physically used as a particular number of apartments does not necessarily mean that all of those units are legally recognized.
What should buyers know about New York Zoning regulations?
Zoning is primarily administered at the local level.
Before purchasing property, buyers and investors should verify:
- Zoning district
- Permitted uses
- Density
- Number of units
- Setbacks
- Building height
- Parking
- Commercial uses
- Development rights
- Variances
- Special permits
Local zoning regulations can differ substantially between:
- New York City
- Nassau County
- Suffolk County
- Westchester County
- Rockland County
- Orange County
- Dutchess County
- Ulster County
- Other municipalities
What should New York buyers know about Property Taxes?
Property taxes are a major consideration for New York buyers.
Property-tax systems vary significantly between municipalities.
Buyers should review:
- Current tax bill
- Assessment
- Tax exemptions
- School taxes
- County taxes
- Town taxes
- Village taxes
- Special assessments
The seller’s current tax bill should not automatically be assumed to represent the buyer’s future tax burden.
How do New York School Taxes impact homeowners?
School taxes can represent a significant portion of a homeowner’s annual property tax bill.
This is particularly important when comparing properties in:
- Long Island
- Westchester County
- Hudson Valley
- Upstate New York
Buyers should examine the actual tax bill rather than relying solely on an online property listing.
What should buyers research in New York Title and Property Records?
Before purchasing property, buyers should conduct appropriate title and public-record research.
Issues may include:
- Liens
- Mortgages
- Judgments
- Easements
- Covenants
- Property boundaries
- Tax issues
- Building violations
- Open permits
A New York real estate attorney typically plays an important role in the title and contract process.
What is the role of Real Estate Attorneys in New York transactions?
New York residential transactions commonly involve attorneys in the contract and closing process.
The attorney may review:
- Purchase contract
- Title
- Survey
- Liens
- Property records
- Closing documents
- Financing documents
- Other legal issues
Buyers and sellers should understand the distinction between the role of the real estate broker and the role of the attorney.
What is involved in New York Real Estate Contracts?
New York real estate transactions generally involve a written contract of sale.
A buyer’s offer is not necessarily equivalent to a fully executed binding contract.
The transaction typically progresses through:
- Offer
- Negotiation
- Contract preparation
- Attorney review
- Contract signing
- Deposit
- Due diligence
- Mortgage/financing
- Title work
- Closing
The precise process can vary depending on the transaction and location.
What types of Home Inspection and Due Diligence are recommended in New York?
Although the seller provides the required Property Condition Disclosure Statement for covered transactions, buyers should conduct their own due diligence.
Potential inspections include:
- Home inspection
- Radon
- Pest
- Mold
- Sewer
- Oil tank
- Septic
- Well
- Structural
- Environmental
The New York statutory disclosure is not a warranty and should not be treated as a substitute for independent inspection.
What are common Environmental Concerns in New York real estate?
Depending on location and property history, buyers may need to investigate:
- Underground oil tanks
- Lead
- Asbestos
- Mold
- Radon
- PCBs
- Contaminated soil
- Former industrial uses
- Brownfields
- Superfund sites
This can be particularly important in older urban and industrial areas.
How is Real Estate Licensing regulated in New York?
New York regulates real estate brokers and salespersons under Real Property Law Article 12-A.
The law addresses:
- Licensing
- Broker responsibilities
- Salespersons
- Compensation
- Agency
- Advertising
- Disciplinary matters
- Brokerage relationships
A person generally must be properly licensed to perform activities requiring a New York real estate license.
What are the requirements for Real Estate Advertising in New York?
Real estate advertising must comply with New York licensing requirements and applicable fair housing laws.
Advertising should be:
- Accurate
- Truthful
- Not misleading
- Properly identified
- Consistent with the brokerage’s license requirements
This applies to:
- MLS listings
- Websites
- Social media
- Google advertising
- Property flyers
- Signs
- Email marketing
- AI-generated content
What are New York Condominiums and Cooperatives?
New York has an extensive condominium and cooperative market.
A condominium transaction and a cooperative transaction are not identical.
Condominium
The buyer generally purchases a real property interest in an individual unit plus an interest in the common elements.
Cooperative
The purchaser generally buys shares in a corporation and receives a proprietary lease to the apartment.
Co-op purchases can involve additional requirements such as:
- Board approval
- Financial review
- Application
- Interview
- Building rules
- Sublet restrictions
- Flip taxes
Buyers should carefully review the governing documents before entering into a transaction.
What are the laws for Short-Term Rentals in New York?
Short-term rental laws vary substantially by location.
New York City, for example, has very restrictive short-term rental rules.
Other municipalities may have their own:
- Licensing
- Registration
- Occupancy
- Tax
- Zoning
- Rental restrictions
Investors should verify local requirements before purchasing a property for short-term rental use.
What should New York Real Estate Investors evaluate?
Investors should evaluate more than the purchase price.
A proper investment analysis should include:
Income
- Gross rent
- Vacancy
- Other income
Expenses
- Property taxes
- Insurance
- Utilities
- Repairs
- Maintenance
- Management
- Legal
- Accounting
- Capital expenditures
Legal
- Rent regulation
- Certificates of occupancy
- Building violations
- Zoning
- Existing leases
Financing
- Interest rate
- Debt service
- Loan terms
- Required reserves
Exit strategy
- Resale
- Refinancing
- Long-term hold
- Conversion
- Development
35. New York Real Estate Frequently Asked Questions
Does New York require a seller disclosure?
Generally, yes. Covered residential sellers must provide the statutory Property Condition Disclosure Statement before the buyer signs a binding contract, subject to statutory exemptions.
Does New York require a home inspection?
No general statewide requirement requires every seller to obtain a home inspection.
Does New York require radon testing?
Generally, no statewide requirement applies to every residential sale.
Does New York require lead-paint disclosure?
Federal law generally requires lead-paint disclosure for most residential properties constructed before 1978.
Does the seller have to disclose every defect?
The statutory disclosure addresses conditions within the seller’s actual knowledge. Buyers should still conduct independent inspections and due diligence.
Can the seller update the disclosure?
Yes. If the seller learns information that makes the previously provided disclosure materially inaccurate, New York law requires a revised disclosure as soon as practicable under the statute.
Does New York permit dual agency?
Yes, but specific informed-consent requirements apply.
Are New York real estate transactions handled by attorneys?
New York transactions commonly involve attorneys, particularly for contract and title work.
Are New York property taxes high?
Property taxes vary substantially by location. Buyers should examine the actual tax bill for the specific property.
Are New York rental laws complicated?
Yes. Statewide landlord-tenant laws can be supplemented by significant local requirements, particularly in New York City and other regulated markets.
Are New York multifamily properties subject to rent regulation?
Some are. Investors should conduct specific legal due diligence before purchasing a multifamily property.
How do New York Real Estate Laws vary by Region?
Because New York has substantial local regulation, I recommend making additional pages for the geographic areas you serve.
Long Island
Create individual pages for:
- Nassau County
- Suffolk County
- Long Island school taxes
- Long Island property taxes
- Long Island zoning
- Nassau County real estate laws
- Suffolk County real estate laws
New York City
Separate pages for:
- Manhattan
- Brooklyn
- Queens
- Bronx
- Staten Island
- NYC rent stabilization
- NYC co-ops
- NYC condominiums
- NYC short-term rentals
Hudson Valley
Create pages for:
- Westchester County
- Rockland County
- Orange County
- Putnam County
- Dutchess County
- Ulster County
These pages can address the specific zoning, property-tax, school and local-government issues affecting each area.
Buying or Selling New York Real Estate?
New York real estate transactions involve more than simply negotiating a purchase price.
Buyers and sellers should understand:
- Property condition disclosures
- Home inspections
- Agency relationships
- Contracts
- Attorneys
- Title
- Property taxes
- Zoning
- Building records
- Environmental issues
- HOA/condominium/co-op requirements
- Local regulations
Netrealtynow.com provides real estate brokerage and flat-fee MLS services for New York property owners and buyers.
Whether you are selling a home, purchasing an investment property or evaluating multifamily real estate, understanding the applicable New York laws and local requirements can help you make a more informed decision.
Important Disclaimer
This page is intended for general educational and informational purposes only. It is not legal, tax, environmental, engineering or other professional advice.
New York real estate laws can change, and individual counties, cities, towns and villages may impose additional requirements.
Before relying on information on this page for a specific transaction, buyers, sellers, landlords and investors should verify the current requirements applicable to the property and consult an appropriately licensed professional when necessary.
Last reviewed: August 2026