§ 339-D Short Title
§ 339-E Definitions
§ 339-F Application of Article
§ 339-G Status of Units
§ 339-H Ownership of Units
§ 339-I Common Elements
§ 339-J Compliance With By-Laws and Rules and Regulations
§ 339-K Certain Work Prohibited
§ 339-L Liens Against Common Elements; Liens Against Units; Liens for Labor Performed or Materials Furnished
§ 339-M Common Profits and Expenses
§ 339-N Contents of Declaration
§ 339-O Contents of Deeds and Leases of Units
§ 339-P Copy of Floor Plans to Be Filed
§ 339-Q Filing With Board
§ 339-R Blanket Mortgages and Other Blanket Liens Affecting a Unit At Time of First Conveyance
§ 339-S Recording
§ 339-T Withdrawal From Provisions of This Article
§ 339-U By-Laws
§ 339-V Contents of By-Laws
§ 339-W Books of Receipts and Expenditures; Availability for Examination
§ 339-X Waiver of Use of Common Elements; Abandonment of Unit; Conveyance to Board of Managers
§ 339-Y Separate Taxation
§ 339-Z Lien for Common Charges; Priority; Exoneration of Grantor and Grantee
§ 339-AA Lien for Common Charges; Duration; Foreclosure
§ 339-BB Insurance
§ 339-CC Repair or Reconstruction
§ 339-DD Actions
§ 339-EE Effect of Other Laws
§ 339-FF Mortgage Investments On Units by State Agencies, Insurers, Banking Organizations and Fiduciaries; Limitation to First Mortgages
§ 339-GG Severability
§ 339-HH Reservation of Power
§ 339-II Construction
§ 339-JJ Borrowing by Board of Managers
§ 339-KK Rents
§ 339-LL Electric Vehicle Charging Station Installation

Terms Used In New York Laws > Real Property > Article 9-B

  • Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
  • Building: means a multi-unit building or buildings, or a group of buildings whether or not attached to each other, comprising a part of the property. See N.Y. Real Property Law 339-E
  • Common charges: means each unit's proportionate share of the common expenses in accordance with its common interest. See N.Y. Real Property Law 339-E
  • Common expenses: means and includes:

    (a) Expenses of operation of the property, and

    (b) All sums designated common expenses by or pursuant to the provisions of this article, the declaration or the by-laws. See N.Y. Real Property Law 339-E

  • Common interest: means the (i) proportionate, undivided interest in fee simple absolute, or (ii) proportionate undivided leasehold interest in the common elements appertaining to each unit, as expressed in the declaration. See N.Y. Real Property Law 339-E
  • Common profits: means the excess of all receipts of the rents, profits and revenues from the common elements remaining after the deduction of the common expenses. See N.Y. Real Property Law 339-E
  • Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
  • Declaration: means the instrument by which the property is submitted to the provisions of this article, as hereinafter provided, and such instrument as from time to time amended, consistent with the provisions of this article and of the by-laws. See N.Y. Real Property Law 339-E
  • Deed: The legal instrument used to transfer title in real property from one person to another.
  • Fee simple: Absolute title to property with no limitations or restrictions regarding the person who may inherit it.
  • Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. Source: OCC
  • Fraud: Intentional deception resulting in injury to another.
  • Grace period: The number of days you'll have to pay your bill for purchases in full without triggering a finance charge. Source: Federal Reserve
  • Grantor: The person who establishes a trust and places property into it.
  • Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
  • Lien: A claim against real or personal property in satisfaction of a debt.
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • Operation of the property: means and includes the administration and operation of the property and the maintenance, repair and replacement of, and the making of any additions and improvements to, the common elements. See N.Y. Real Property Law 339-E
  • Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
  • Person: means a natural person, corporation, partnership, association, trustee or other legal entity. See N.Y. Real Property Law 339-E
  • Personal property: All property that is not real property.
  • Property: means and includes the land, the building and all other improvements thereon, (i) owned in fee simple absolute, or (ii) in the case of a condominium devoted exclusively to non-residential purposes, held under a lease or sublease, or separate unit leases or subleases, the unexpired term or terms of which on the date of recording of the declaration shall not be less than thirty years, or (iii) in the case of a qualified leasehold condominium, held under a lease or sublease, or separate unit leases or subleases, the unexpired term or terms of which on the date of recording of the declaration shall not be less than fifty years, and all easements, rights and appurtenances belonging thereto, and all other property, personal or mixed, intended for use in connection therewith, which have been or are intended to be submitted to the provisions of this article. See N.Y. Real Property Law 339-E
  • Qualified leasehold condominium: means any leasehold interest in real property intended to be used for either residential purposes, commercial purposes, industrial purposes or any combination of such purposes, together with any fee simple absolute or leasehold interest in the buildings and all other improvements which have been or at any time hereafter may be erected upon such real property, which has been or is intended to be submitted to the provisions of this article, provided that, on the date of the recording of the declaration: (i) the battery park city authority or the Roosevelt Island operating corporation is the holder of the tenant's interest in such leasehold interest or (ii) the Queens West development corporation is the holder of the landlord's interest in such leasehold interest or (iii) the Brooklyn bridge park development corporation is the holder of the landlord's interest in such leasehold interest, or (iv) the New York city educational construction fund is the holder of the landlord's interest in such leasehold interest for property located in the borough of Manhattan, in the city of New York, bounded on the east by Second Ave, on the west by Third Avenue, to the north by East Fifty-seventh Street, and to the south by East Fifty-sixth Street. See N.Y. Real Property Law 339-E
  • Quorum: The number of legislators that must be present to do business.
  • Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
  • Testimony: Evidence presented orally by witnesses during trials or before grand juries.
  • Unit: means a part of the property intended for any type of use or uses, and with an exit to a public street or highway or to a common element or elements leading to a public street or highway, and may include such appurtenances as garage and other parking space, storage room, balcony, terrace and patio, but in no event may utility facilities such as those for water or sewerage treatment or power generation appear as single units. See N.Y. Real Property Law 339-E
  • Unit designation: means the number, letter or combination thereof or other official designations conforming to the tax lot number, if any, designating the unit in the declaration and on the floor plans. See N.Y. Real Property Law 339-E
  • Unit owner: means the person or persons owning a unit in fee simple absolute or, in the case either (i) of a condominium devoted exclusively to non-residential purposes, or (ii) a qualified leasehold condominium, owning a unit held under a lease or sublease. See N.Y. Real Property Law 339-E