Bill > A03169

This bill amends the New York Real Property Law to require auditors to disclose important financial information about condominiums, cooperative apartment buildings, and cooperative communities. Specifically, if an auditor discovers any written document or evidence that would significantly impact their professional assessment of the fiscal health of such a property, they must disclose these findings in writing to prospective buyers, current owners, and the property's governing board. The disclosure must be made within a reasonable time after discovery, and the auditor is obligated to provide a complete copy of their report upon written request from any of these parties. The legislation aims to increase transparency and ensure that stakeholders have access to critical financial information that could affect their investment or living situation, thereby helping potential buyers and current owners make more informed decisions about their property.

Housing and Urban Affairs

https://www.nysenate.gov/legislation/bills/2025/A3169