ยง 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.
Structure New York Laws