N.Y. Real Property Law § 337: Definitions

§ 337. Definitions. As used in this article: 1. The words "subdivided

lands" and "subdivision" mean vacant land or lands sold or leased on the

installment plan or offered for sale or lease on such plan and also

vacant land or lands situated outside the state of New York and sold or

leased or offered for sale or lease on the installment plan or upon any

and all other plans, terms and conditions of sale or lease.

2. The word "subdivider" shall include every person, partnership,

corporation, company or association who or which engages directly or

through an agent in the business of selling, leasing or offering for

sale or lease subdivided lands and subdivisions to the public in this

state.

3. The words "installment plan" mean any plan, arrangement or

agreement pursuant to the terms, covenants and conditions whereof the

proposed purchaser of vacant land or lands to be acquired amortizes the

purchase price by periodic payments and whereby the conveyance of title

to the purchaser of such vacant land or lands is deferred until such

time as all said periodic payments have been made and shall also include

the provision in a plan, arrangement or agreement or lease requiring a

consideration from the lessee in addition to the periodic payments as a

condition precedent to the conveyance of title to the lessee.

4. The words "a lease of land or lands on the installment plan" mean

and include a plan, arrangement or agreement whereunder the periodic

payments made are designated as rent and upon the completion of such

payments the lessee is entitled to a conveyance of title to the vacant

land or lands leased.

5. The words "fraudulent practice" or "fraudulent practices" mean any

device, scheme or artifice employed by a subdivider to defraud or obtain

money or property by means of any false pretense, representation or

promise, or that a subdivider makes or attempts to make fictitious or

pretended purchases, sales or leases of vacant land or lands to the

public in this state, or engages in or is about to engage in any

practice or transaction or course of business relating to the purchase,

sale or lease of vacant land or lands which is fraudulent or in

violation of law and which has operated or which would operate as a

fraud upon the purchaser, or that any owner or subdivider as

hereinbefore defined has sold or offered for sale or is attempting to

sell or is offering for sale any vacant land or lands in violation of

the provisions of this article.