New York bill A07589 voids property transfers to landlords on the city's worst landlord watchlist and imposes a $50,000 penalty for violations.

New York bill A07589 amends the general obligations law to declare any conveyances of real property to landlords on the city of New York's office of the public advocate's worst landlord watchlist as void as against public policy. The bill applies this restriction to direct or indirect conveyances, including through affiliated entities, trusts, or limited liability companies where the landlord holds 25% or more beneficial ownership.

New York bill A07589 voids property transfers to landlords on the city's worst landlord watchlist and imposes a $50,000 penalty for violations.

New York bill A07589 amends the general obligations law to declare any conveyances of real property to landlords on the city of New York's office of the public advocate's worst landlord watchlist as void as against public policy. The bill applies this restriction to direct or indirect conveyances, including through affiliated entities, trusts, or limited liability companies where the landlord holds 25% or more beneficial ownership.