New York State Revised Real Property Disclosure Law

Buyers and sellers of residential real property in New York State should be aware of the recent revisions to the New York State Property Condition Disclosure Act which became effective March 20, 2024.

In a significant change from the prior law, sellers are no longer allowed to give a $500.00 credit to purchasers at closing in lieu of completing the property disclosure questionnaire.

In another change, the new disclosure questionnaire now requires sellers to disclose whether the property is in a federally determined flood hazard zone, whether the sellers maintain flood hazard insurance and whether the seller has ever received assistance from the Federal Emergency Management Agency (FEMA) or any other government agency for flood damage.

The revised disclosure act provides the same exemptions which were set forth in the prior law. Sellers of cooperative apartments and condominium units are not required to complete the questionnaire. Sales from decedent’s estates and trusts are similarly exempt from the disclosure requirement.

Click the below link for a PDF copy of the current disclosure questionnaire.

https://dos.ny.gov/system/files/documents/2025/05/dos-1614-f-property-condition-disclosure-statement_04.2025-eff.-07.2025.pdf

The seller must complete and sign the disclosure questionnaire and give it to the buyer(s) or buyer’s agent prior to the buyer signing a contract of sale. As clearly stated in the questionnaire, “A knowingly false or incomplete statement by the seller on this form may subject the seller to claims by the buyer prior to or after the transfer of title.”

As New York is still essentially a “Buyer Beware” state, buyers receiving the signed disclosure questionnaire are wise to also have a home inspection done by a licensed home inspection firm as the disclosure questionnaire is not a warranty by the seller of the condition of the property. This is especially true as the law doesn’t require the seller to undertake any investigation of their own. Many of the questions can be answered as “yes”, “no”, “unknown” or “not applicable.”

As always, buyers and sellers should seek the counsel of attorneys experienced in real estate when buying and selling residential properties to ensure they comply with the newly revised New York State Property Disclosure Act.