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New York · RPL §462New York Property Condition Disclosure Statement

In New York the seller of a one-to-four family home completes and signs the statutory Property Condition Disclosure Statement and delivers it to the buyer or buyer's agent before the buyer signs a binding contract; a copy signed by both is attached to the contract (Real Property Law §462). If the seller later learns something that makes it materially inaccurate, it delivers a revised statement – but not after title transfer or occupancy. A seller is liable only for a willful failure, for the buyer's actual damages (§465).

The rules

  1. When (§462(1))

    Before the buyer signs a binding contract of sale; the copy signed by seller and buyer is attached to the purchase contract. Parties may still agree to sell “as is”.

  2. The form (§462(2))

    Set out in the statute, including questions on whether the property is in a FEMA floodplain, the special flood hazard area (100-year), a moderate-risk area (500-year), and whether federal law requires flood insurance.

  3. Revision (§464)

    If the seller learns something that makes the statement materially inaccurate, it delivers a revised statement as soon as practicable – but never after title transfer or the buyer's occupancy, whichever is earlier.

  4. Liability (§465)

    A seller is liable only for a willful failure to perform the article's requirements – for the buyer's actual damages, plus other existing remedies.

Exempt transfers (§463, selection)

  • Court-ordered transfers, foreclosures, deeds in lieu, sheriff's sales and partition actions.
  • Fiduciaries in an estate, guardianship, conservatorship or trust.
  • Co-owners, spouses, lineal relatives and divorce transfers; transfers to or from government.
  • Newly constructed homes never inhabited.

What the TC tracks

  • The signed statement in the contract package before the buyer signs.
  • The flood questions – they tie into flood insurance and the lender's requirements.
  • Any revised statement before closing or occupancy.

Questions about the New York property disclosure

When must the New York Property Condition Disclosure Statement be delivered?

Before the buyer signs a binding contract of sale, to the buyer or the buyer's agent (Real Property Law §462(1)).

Does the New York disclosure ask about flooding?

Yes. The statutory form asks about FEMA floodplains, the special flood hazard area, the moderate-risk 500-year area and federal flood insurance requirements.

Must a New York seller update the disclosure?

Yes, if it becomes materially inaccurate – but not after title transfer or the buyer's occupancy, whichever is earlier (§464).

When is a New York seller liable under the disclosure law?

Only for a willful failure to perform the article's requirements, for the buyer's actual damages (§465).

Is new construction exempt in New York?

Yes, newly constructed residential property that has not been inhabited is exempt (§463(12)).

Related guides

Keep the signed disclosure and any revision with the deal documents in ClosingCode, with the date each reached the buyer.

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Source: New York Real Property Law §§462–465 (nysenate.gov, read October 24, 2026).

General information, not legal advice. ClosingCode is software; it is not a law firm or brokerage.