N.Y. Real Property Law 339-O – Contents of deeds and leases of units
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§ 339-o. Contents of deeds and leases of units. Deeds and leases of units shall include the following particulars:
Terms Used In N.Y. Real Property Law 339-O
- Common interest: means the (i) proportionate, undivided interest in fee simple absolute, or (ii) proportionate undivided leasehold interest in the common elements appertaining to each unit, as expressed in the declaration. See N.Y. Real Property Law 339-E
- Declaration: means the instrument by which the property is submitted to the provisions of this article, as hereinafter provided, and such instrument as from time to time amended, consistent with the provisions of this article and of the by-laws. See N.Y. Real Property Law 339-E
- Grantor: The person who establishes a trust and places property into it.
- Unit: means a part of the property intended for any type of use or uses, and with an exit to a public street or highway or to a common element or elements leading to a public street or highway, and may include such appurtenances as garage and other parking space, storage room, balcony, terrace and patio, but in no event may utility facilities such as those for water or sewerage treatment or power generation appear as single units. See N.Y. Real Property Law 339-E
- Unit designation: means the number, letter or combination thereof or other official designations conforming to the tax lot number, if any, designating the unit in the declaration and on the floor plans. See N.Y. Real Property Law 339-E
1. Description of the land as provided in subsection two of section three hundred thirty-nine-n and the liber, page and date of recording of the declaration or solely by naming the city, village or town and the county in which the unit is located and referring to the liber, page and date of recording of the declaration.
2. The unit designation of the unit in the declaration and any other data necessary for its proper identification.
3. Statement of the use for which the unit is intended.
4. The common interest appertaining to the unit.
5. Any further details which the grantor and grantee may deem desirable to set forth.