N.Y. Real Property Law 339-E – Definitions
§ 339-e. Definitions. As used in this article, unless the context otherwise requires:
Terms Used In N.Y. Real Property Law 339-E
- 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 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
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- 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
- Fee simple: Absolute title to property with no limitations or restrictions regarding the person who may inherit 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
- 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
- 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
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
- Trustee: A person or institution holding and administering property in trust.
- 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
1. "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.
2. "Common charges" means each unit's proportionate share of the common expenses in accordance with its common interest.
3. "Common elements," unless otherwise provided in the declaration, means and includes:
(a) The land on which the building is located;
(b) The foundations, columns, girders, beams, supports, main walls, roofs, halls, corridors, lobbies, stairs, stairways, fire escapes, and entrances and exits of the building;
(c) The basements, cellars, yards, gardens, recreational or community facilities, parking areas and storage spaces;
(d) The premises for the lodging or use of janitors and other persons employed for the operation of the property;
(e) Central and appurtenant installations for services such as power, light, gas, hot and cold water, heating, refrigeration, air conditioning and incinerating;
(f) The elevators, escalators, tanks, pumps, motors, fans, compressors, ducts and in general all apparatus and installations existing for common use;
(g) Such facilities as may be designated as common elements in the declaration; and
(h) All other parts of the property necessary or convenient to its existence, maintenance and safety, or normally in common use.
4. "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.
5. "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.
6. "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.
7. "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.
8. "Majority" of unit owners means either (i) more than fifty per cent in common interest in the aggregate, or (ii) more than fifty per cent in number of units in the aggregate, or (iii) more than fifty per cent in the aggregate in both common interest and in number of units, as may be specified herein or in the declaration or the by-laws with respect to any matter or matters. Any specified percentage of unit owners means (i) such percentage in common interest in the aggregate, or (ii) such percentage in number of units in the aggregate, or (iii) such percentage in common interest and such percentage in number of units, as may be specified herein or in the declaration or the by-laws with respect to any matter or matters, provided, however, that different percentages in interest and in number of units may be so specified.
9. "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.
10. "Person" means a natural person, corporation, partnership, association, trustee or other legal entity.
11. "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.
12. "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.
13. "Recording officer" and "recording" or "recorded" shall have the meanings stated in section two hundred ninety of this chapter.
14. "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.
15. "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.
16. "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.