Skip to main content

N.Y. Gen. Oblig. Law § 7-108

Citation
N.Y. Gen. Oblig. Law § 7-108
Jurisdiction
New York (state)
Source verification
official_capture_completeness_unverified

Full Text

1,651 chars
(d) The grantee or assignee of the leased premises shall have the
right to demand that the grantor or assignor thereof establish an escrow
account equal to one month's rent for any leased premises for which
there is no record of a security deposit pursuant to paragraph (b) of
this subdivision to be used for the purpose of holding harmless the
grantee or assignee in any case where, at a date subsequent to the
closing or other transfer of title, the tenant gives notice pursuant to
paragraph (c) of this subdivision.

(e) The liability of a receiver for payment of any security deposit
plus accrued interest pursuant to this subdivision shall be limited to
the amount of such deposit actually turned over to him or it pursuant to
subdivision one of section 7-105 of this chapter and to the operating
income in excess of expenses generated during his or its period of
receivership.

3. Any agreement by a lessee or tenant of a dwelling waiving or
modifying his rights as set forth in this section shall be absolutely
void.

4. A dwelling unit shall qualify as a seasonal use dwelling unit for
the purpose of paragraph (a) of subdivision one-a of this section if it
meets all of the following conditions:

(a) The lease expressly provides that: (i) the dwelling unit is
registered as a seasonal use dwelling unit, indicating the local or
county government agency with which it is registered; (ii) the occupancy
of the tenant is only for seasonal use not to exceed one hundred twenty
days or a shorter period provided for in the lease; and (iii) such
tenant has a primary residence to return to, the address of which is
expressly provided in the lease.