Form: Updated NY Property Condition Disclosure Statement (Revised Jan. 2024)

As of March 7, 2024, the New York Department of State's Website seems to still be providing the June 2023 version of the Property Condition Disclosure Statement (PCDS):

As I previously blogged, New York lawmakers made three changes to the PCDS, and some will become effective on March 20, 2024.

Below is the January 2024 version of the form that a colleague shared on the New York State Bar Association Real Property Law Section's listserv:

Another lawyer on the listserv informed that Judicial Title has shared this link to the latest version of the PCDS form: https://dos.ny.gov/system/files/documents/2024/03/dos-1614-f-property-condition-disclosure-statement_01.2024.pdf

"Thank God for Judicial Title," wrote the lawyer. Thank God also for the generosity of fellow lawyers on the New York State Bar Association's listservs!

For those who are interested, the New York State Bar Association will have a webinar on the PCDS and COOPs:

Property Condition Disclosure Act (PCDA) Amended and Flood Disclosure in Co-Op Leases
March 15, 2024
1:00 p.m. – 2:00 p.m.
Webinar

The amended Property Condition Disclosure Act deleted the $500 seller credit and added 7 questions to the PCDS about flooding., effective March 20, 2024. The original PCDA was enacted in 2002. Its terms will be described in detail. Downstate and Upstate practice will be noted. The common law of caveat emptor and cases will be discussed. Many questions remain about how the amended PCDA will be interpreted and enforced.
New RPL 231-b requires disclosure in residential leases whether any of the leased premises are located in a floodplain and any history of flood damage, effective June 21.2023. Each lease must provide a standard notice about flooding. This creates a practical compliance issue for co-ops.

Speakers:

Karl B. Holtzschue, Esq., Former Chair, Real Property Law Section
William D. McCracken, Esq, Moritt Hock & Hamroff LLP

$40 Real Property Law Section Member
$50 NYSBA Member
$100 Non-NYSBA Member

Join the Real Property Law Section:

Or Call to join and register: 1-800-582-2452, M – F, 8:00 a.m. – 5:30 p.m.

Register:

PCDA Amended and Flood Disclosure in Co-op Leases - New York State Bar Association (nysba.org)