§ 1305. Notice to tenants. 1. Definitions. For the purposes of this\nsection, the following definitions shall apply:\n (a) "Residential real property" shall mean real property located in\nthis state improved by any building or structure that is or may be used,\nin whole or in part, as the home or residence of one or more persons,\nand shall include any building or structure used for both residential\nand commercial purposes.\n (b) "Successor in interest" shall mean any person or entity who or\nwhich acquires title in a residential real property as a result of a\njudgment of foreclosure and sale, or other disposition during the\npendency of the foreclosure proceeding, or at any time thereafter but\nprior to the expiration of the time period as provided for in\nsubdivision two of this section.\n (c) "Tenant" shall mean any person who appears as a lessee on a lease\nof one or more dwelling units of a residential real property that is\nsubordinate to the mortgage on such residential real property; or who at\nsuch time is a party to an oral or implied rental agreement with the\nmortgagor and obligated to pay rent to the mortgagor or such mortgagor's\nrepresentative, for the use or occupancy of one or more dwelling units\nof a residential real property.\n 2. Notwithstanding any other provision of law, a tenant of a unit not\nsubject to rent control or rent stabilization shall have the right to\nremain in occupancy of the unit of the subject residential real property\nwhere he or she resides on the date of service of the notice required by\nsubdivision three of this section for the greater of: (a) a period of\nninety days from the date of the service of such notice; or (b) for the\nremainder of the lease term if the tenant occupied the premises at the\ncommencement of the foreclosure action or received a notice pursuant to\nsection thirteen hundred three of this article; or (c) for the remainder\nof the lease term, provided that the lease agreement was entered into in\ngood faith pursuant to this section and federal law, up to a maximum of\nthree years, for tenants who did not occupy the premises at the\ncommencement of the foreclosure action and therefore did not receive the\noriginal notice of service required pursuant to section thirteen hundred\nthree of this article; provided that if a successor in interest who\nacquires title to such residential real property intends to occupy a\nsingle unit as his or her primary residence and the unit is not subject\nto a federal or state statutory system of subsidy or other federal or\nstate statutory scheme, the successor may limit for one unit only, the\ntenant's right of occupancy to ninety days. For a lease to qualify under\nthis subdivision, the tenant under such lease may not be the owner of\nthe residential real property, and such lease must require the payment\nof rent for such unit that is not substantially less than the fair\nmarket rent for the unit, unless the unit is subject to federal or state\nstatutory system of subsidy or other federal or state statutory scheme.\nA tenant under paragraph (a), (b), or (c) of this subdivision shall\ncontinue such tenancy subject to any limitations in this subdivision\nunder the same terms and conditions as were in effect at the time of\nentry of the judgment of foreclosure and sale, or if no such judgment\nwas entered, upon the terms and conditions that were in effect at the\ntime of the transfer of ownership of such property. For purposes of this\nsection, "fair market rent" shall mean rent for a unit of residential\nreal property of similar size, location and condition.\n 3. Notwithstanding any other provision of law, and consistent with\nsubdivision two of this section, a successor in interest of residential\nreal property shall provide written notice to all tenants in the same\nmanner as required by subdivision four of section thirteen hundred three\nof this article: (a) that they are entitled to remain in occupancy of\nsuch property f
‹ Prev All New York sections Next ›
Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.