Bill > S01745

This bill amends the New York real property law to modify how cooperative housing entities are classified for legal purposes. Specifically, the bill provides that the term "landlord" shall not apply to corporations or organizations that provide housing to their shareholders through proprietary leases or occupancy agreements in buildings they own. Additionally, the bill stipulates that the term "tenant" will not include shareholders, tenants, or subtenants of cooperative entities unless specific legislation explicitly states otherwise. This means that cooperative housing entities, which are typically nonprofit organizations that provide housing to their members through a shared ownership model, will be treated differently under real property law. The bill aims to create a distinct legal category for these cooperative housing entities, potentially affecting how they are regulated and how their relationships with shareholders are legally defined. The legislation takes effect immediately upon passage.

Justice

https://www.nysenate.gov/legislation/bills/2025/S1745