The New York State Department of State has now released the highly anticipated updated Property Condition Disclosure Statement form, and we've
linked the fillable version here for easy access!
In September, 2023, Governor Hochul signed an amendment to the Real Property Law eliminating sellers' ability to withhold a property disclosure form in exchange for a $500 credit to the purchaser. Starting
March 20, 2024, the new form must be delivered to the buyer prior to the execution of the contract
of sale. The seller will certify that the information is true and complete to the best knowledge of the seller.
Although this form does not raise specific title insurance issues, please reach out to us if you have any specific questions and we'll happily assist you with your next transaction!
