Enacts the "homebuyer renovation property tax exemption act" to grant an exemption of up to fifteen thousand dollars from taxation levied by or on behalf of any county, city, town, village or school district in which such residential property is located for a period of five years from the date of purchase of the property; defines "primary residential property".
Requires manufactured home park owners to provide a written justification for rent increases in excess of three percent of the current rent; provides that increases in costs to justify such rent increase for ordinary maintenance or repair to meet the warranty of habitability obligations must be shown to be necessary.
Expands eligibility for the low interest rate program of the state of New York mortgage agency to certain graduates of post secondary programs or comparable apprenticeship and workforce training programs for the purchase of certain property.
This New York state bill (S 3737) protects homeowners from being misled into signing away their property to mortgage servicers. It requires all property transfer deeds to include explicit, bold warning language stating "YOU ARE HEREBY MADE AWARE THAT BY SIGNING THIS DEED YOU ARE TRANSFERRING OWNERSHIP OF YOUR LAND OR HOME," accompanied by a notarized signature line from the homeowner. Failure to include this warning makes the transfer invalid and could result in a class E felony charge for the party involved. The bill also explicitly prohibits mortgage servicers from claiming ownership through deed transfers during mortgage modifications, and authorizes the state banking department to investigate suspected fraudulent transfers.
Requires DHCR to develop a common application and web portal for certain funding, tax credits, loans, and grants for housing; requires such application to be available upon request from relevant state agencies; requires such web portal to be manageable by relevant state agencies; makes relevant provisions.
Requires an annual inspection and audit process which shall review five percent of individual apartment improvement notifications for rent stabilized apartments outside of the city of New York; requires additional audits where violations are found.
Relates to priority applicants and inspection of units under the housing access voucher pilot program; provides that priority shall be given both to applicants who are homeless and who are at risk of losing their federal rental subsidy; provides that housing access voucher local administrators shall inspect units for which a housing assistance payment contract is established.
Establishes a subpart to hear eviction matters related to affordable housing providers and small landlords; provides a subpart shall be in each borough of the city of New York; defines terms.
Creates an employer-assisted housing match grant program under which certain nonprofit employees may be eligible for a state match for certain employer-provided funds for housing costs.
Expands definition of eligible senior citizen and disabled person to include any member of the tenant's household lawfully occupying the premises as such person's residence who is 62 years of age with respect to condominium and cooperative conversion to provide protection to disabled and senior citizen non-purchasing residents of buildings that undergo cooperative or condominium conversions under an eviction plan even where such residents are not tenants of record in the buildings.
