Help for Homeowners. Identity Theft. Lemon Law Protections. Offering Plan Data Search. Presentation Request Form. Student Lending. Conviction Review Bureau. Free Educational Programs. Human Trafficking Initiative. The Department of Law, in its discretion, may require such further proof as it deems necessary to establish that there were no excessive long-term vacancies.
After submission of the proposed offering plan for filing, the Department of Law shall issue a letter to the sponsor or sponsor's attorney stating that the plan is filed, or indicating deficiencies. The Department of Law shall issue such a letter for an offering plan subject to this Part no sooner than four months and no later than six months after the date of submission of the proposed offering plan.
The Department of Law may issue a deficiency letter whenever it appears:. The Department of Law may, in its discretion, deem an offering plan as not submitted if the proposed offering plan and exhibits are incomplete and therefore do not meet the requirements of section Following submission of a proposed offering plan, revisions must be made to reflect any material changes of facts or circumstances pertaining to the proposed offering, the offerors, the property involved, the condition of the premises, or the costs of ownership and operation of the property, so that the offering plan may continue to comply with subdivision b of this section.
Such revisions shall be submitted to the attorney assigned by the Department of Law to review the proposed offering plan.
The Department of Law, in its discretion, may require that a supplement to the proposed offering plan be served on tenants containing the revised information. After the offering plan is filed, the plan must be amended periodically as required by section Unless expressly provided herein, nothing contained in this Part shall be construed as limiting the requirements set forth in article A of the G. In the interests of justice, the Department of Law may waive compliance with any provision of these regulations and can permit variations of regulations so long as variation is consistent with the purpose and intent of regulation and statute or unless prohibited from doing so by statute or by final court order.
Upon written application of the sponsor or sponsor's attorney, the Department of Law, in its discretion, may exempt a plan from the application of any provision of this Part, where it is found that enforcement of the provision is not necessary to effectuate the purposes of the G.
The application shall:. The transmittal letter and certifications required by section In the event that the Department of Law denies the application for exemption, the Department of Law may issue a deficiency letter as provided in subdivision g of this section.
No additional fee is required for an exemption application. Identity Theft. Lemon Law Protections. Offering Plan Data Search. Presentation Request Form. Student Lending. Conviction Review Bureau. Free Educational Programs. Human Trafficking Initiative. Immigration Services Fraud Initiative.
Land Bank Community Revitalization. NY Open Government. The developer argued they had the right to make that change according to the language of the offering plan. However, Wagner identified that many other floor plans in the same building had been shown to include columns.
His client has specifically chosen one which did not have a structural column. As a buyer, you should familiarize yourself with the special risks of your offering plan. For instance, if the developer owns an adjacent parcel of land, which looks like a nice park, they might have the right to build on it and alter the views from your apartment. The condo owners typically have no say in how that commercial unit is used.
A buyer might then consider buying on the 10th floor rather than the second. If the building is a leasehold co-op or a leasehold condo rather than freehold the developer will be renting the land where the building sits. This is something your attorney will definitely flag because it means the building has to pay rent and that cost may go up over time. This will affect the maintenance or common charges in the future. In addition to the price, and depending on the market, you may be able to negotiate who pays the transfer taxes and closing costs.
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