N.Y. Real Property Law § 463: Exemptions

§ 463. Exemptions. A property condition disclosure statement shall not

be required in connection with any of the following transfers of

residential real property:

1. A transfer pursuant to a court order, including, but not limited

to, a transfer order by a probate court during the administration of a

decedent's estate, a transfer pursuant to a writ of execution, a

transfer by a trustee in bankruptcy or debtor-in-possession, a transfer

as a result of the exercise of the power of eminent domain, and a

transfer that results from a decree for specific performance of a

contract or other agreement between two or more persons;

2. A transfer to mortgagee or an affiliate or agent thereof by a

mortgagor by deed in lieu of foreclosure or in satisfaction of the

mortgage debt;

3. A transfer to a beneficiary of a deed of trust;

4. A transfer pursuant to a foreclosure sale that follows a default in

the satisfaction of an obligation that is secured by a mortgage;

5. A transfer by a sale under a power of sale that follows a default

in the satisfaction of an obligation that is secured by a mortgage;

6. A transfer by a mortgagee, or a beneficiary under a mortgage, or an

affiliate or agent thereof, who has acquired the residential real

property at a sale under a mortgage or who has acquired the residential

real property by a deed in lieu of foreclosure;

7. A transfer by a fiduciary in the course of the administration of a

descendent's estate, a guardianship, a conservatorship, or a trust;

8. A transfer from one co-owner to one or more other co-owners;

9. A transfer made to the transferor's spouse or to one or more

persons in the lineal consanguinity of one or more of the transferors;

10. A transfer between spouses or former spouses as a result of a

decree of divorce, dissolution of marriage, annulment, or legal

separation or as a result of property settlement, agreement incidental

to a decree of divorce, dissolution of marriage, annulment or legal

separation;

11. A transfer to or from the state, a political subdivision of the

state, or another governmental entity;

12. A transfer that involves newly constructed residential real

property that previously had not been inhabited;

13. A transfer by a sheriff; or

14. A transfer pursuant to a partition action.