NY LEG Manufactured Home Parks

On Oct. 25, NY LEG enacted bill on sale of manufactured home parks.

  • NY LEG passed bill AB 5549 (SB 5881) to enact amendments to Real property law
  • Provisions
  • Removes certain requirements for potential purchasers of manufactured home parks.
  • A5549A amends section NY LEG 50-7-233-a re sale of manufactured home parks.
  • Proposal gives manufactured homeowners the right of first refusal when the park in which they reside is put up for sale regardless of whether there are land use changes.
  • Gives fair opportunity to preserve the integrity of the home park community.
  • Bill ensures that the 140-day right of first refusal period that this bill imposes on all sales will not create any uncertainty that will deter buyers or harm residents.
  • Additionally, provides for an effective date of 180 days after becoming law.
  • Legislative History
  • On Mar. 16, 2023, referred to Committee; Jun. 9, 2023, substituted by s5881a.
  • On Mar. 21, 2023, bill sent to Senate; on May 3, 2023, bill was passed in Senate.
  • On May 3, 2023, bill sent to Assembly; on Jun. 10, 2023 bill passed Assembly.
  • On Oct. 25, 2023, bill signed by governor, became Chapter 593, effective in 180 days.
  • Effectiveness
  • Bill A 05549A, S 05881-A will be effective 180 days after becoming law, Apr. 22, 2024.

Regulators NY LEG
Entity Types CNSM; Corp; MG Orig
Reference Ch. 593, Bill, A05549, S05881, 10/25/2023; Citation: NY LEG 50-7-233-a;
Functions Compliance; Legal; Operations; Sales Practices
Countries United States of America
Products Corporate; Mortgage
Regions Am
Rule Type Final
Rule Date 10/25/2023
Effective Date 4/22/2024
Rule Id 189333
Linked to N/A
Reg. Last Update 10/25/2023
Report Section US Consumer

Last substantive update on 10/30/2023