New York Property Rehabilitation Protection Act aims to safeguard homeowners from fraudulent assignment of benefit agreements by rehabilitation.

The New York Property Rehabilitation Protection Act seeks to protect homeowners from unscrupulous rehabilitation contractors who exploit assignment of benefit agreements. The act mandates that such agreements must be executed in writing, specify the scope of work, and be limited to residential or commercial property insurance policies executed before January 1, 2027. It prohibits any post-loss insurance benefit assignment after this date. The act also requires assignees to provide detailed invoices, maintain records, and cooperate with insurers.

New York Property Rehabilitation Protection Act aims to safeguard homeowners from fraudulent assignment of benefit agreements by rehabilitation.

The New York Property Rehabilitation Protection Act seeks to protect homeowners from unscrupulous rehabilitation contractors who exploit assignment of benefit agreements. The act mandates that such agreements must be executed in writing, specify the scope of work, and be limited to residential or commercial property insurance policies executed before January 1, 2027. It prohibits any post-loss insurance benefit assignment after this date. The act also requires assignees to provide detailed invoices, maintain records, and cooperate with insurers.