Bill > A01452

This bill amends the New York State Real Property Law to prohibit certain foreign countries, entities, and individuals from acquiring or holding real property within the state. Specifically, the bill restricts real estate ownership for governmental entities, companies, and individuals from "countries of particular concern" as identified by the U.S. Department of State. The new provisions prevent entities that are owned or controlled by governments of these countries, companies headquartered in such countries, or individuals who are citizens of these countries from purchasing or maintaining ownership of real property in New York. These restrictions apply to both direct and indirect ownership, including scenarios where a majority of stock or ownership interest is held by individuals or entities from countries of particular concern. The bill maintains existing provisions allowing U.S. citizens and some foreign entities to own real property, but adds this new layer of limitation focused on countries deemed to be of particular concern by the U.S. State Department. If any part of the bill is found invalid by a court, the rest of the legislation would remain in effect. The act is set to take effect immediately upon passage.

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https://www.nysenate.gov/legislation/bills/2025/A1452