Bill > S05651

This bill amends the New York 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 property ownership for governmental entities, companies, and individuals from "countries of particular concern" as identified by the U.S. Department of State. The restrictions apply to foreign governmental entities, companies headquartered in or controlled by governments of these countries, and companies or individuals who are citizens of or members of such countries or entities. The bill maintains existing provisions allowing U.S. citizens and some foreign governments to hold real property, but adds new limitations for those deemed to be from countries of particular concern. This means that entities or individuals from these specified countries would be required to transfer or dispose of any existing real property holdings to eligible owners. The law aims to limit real estate acquisition by potentially sensitive or strategic foreign actors, with enforcement tied to the U.S. State Department's official designations of countries of particular concern.

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https://www.nysenate.gov/legislation/bills/2025/S5651