Bill Text: NY A01452 | 2025-2026 | General Assembly | Introduced

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Bill Title: Prohibits the acquisition of real property by foreign countries and entities of particular concern as well as citizens, companies, entities, and members of such countries and entities.

Spectrum: Partisan Bill (Republican 16-0)

Status: (Introduced) 2025-01-09 - referred to judiciary [A01452 Detail]

Download: New_York-2025-A01452-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________

                                          1452

                               2025-2026 Regular Sessions

                   IN ASSEMBLY

                                     January 9, 2025
                                       ___________

        Introduced  by  M.  of A. SLATER, GANDOLFO, E. BROWN, BRABENEC, BENDETT,
          LEMONDES, TAGUE, MAHER, DURSO, GRAY,  MIKULIN,  DeSTEFANO,  MANKTELOW,
          REILLY,  GIGLIO,  JENSEN -- read once and referred to the Committee on
          Judiciary

        AN ACT to amend the real property law, in relation  to  prohibiting  the
          acquisition  of  real  property  by  foreign countries and entities of
          particular concern

          The People of the State of New York, represented in Senate and  Assem-
        bly, do enact as follows:

     1    Section  1. Section 10 of the real property law, as amended by chapter
     2  272 of the laws of 1944, subdivision 2 as amended by chapter 669 of  the
     3  laws  of  2022, and subdivision 3 as added by chapter 740 of the laws of
     4  1954, is amended to read as follows:
     5    § 10. Capacity to hold real property.  1.  A  citizen  of  the  United
     6  States  is  capable  of  holding real property within this state, and of
     7  taking the same by descent, devise or purchase.
     8    2. Noncitizens, other than those prohibited under subdivision four  of
     9  this section, are empowered to take, hold, transmit, and dispose of real
    10  property  within  this  state in the same manner as native-born citizens
    11  and their heirs and devisees take in the same manner as citizens.
    12    3. For the purpose of maintaining offices and places of residence  for
    13  its ambassadors and consular officers and for its representatives at the
    14  United  Nations, a foreign government, other than those prohibited under
    15  subdivision four of this section, is empowered  to  hold,  transmit  and
    16  dispose  of  real property within this state. Title to such property may
    17  be taken either in the name of the foreign government or in the name  of
    18  its  ambassador  or  consul or in the name of its minister to the United
    19  Nations. If a conveyance of real property is made to  an  ambassador  or
    20  consul  or  minister of a foreign government as such, or contains appro-
    21  priate words showing the intention to vest the title in  the  holder  of
    22  the  office  rather  than in the named individual, the title to the real

         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD03824-01-5
        A. 1452                             2

     1  property shall pass from time to time without any further conveyance  to
     2  the  respective  successors in such office, who shall have full power to
     3  dispose of such property.
     4    4.  On  and after the effective date of the chapter of the laws of two
     5  thousand twenty-five that amended this section, the  following  nonciti-
     6  zens,  foreign  governments,  and  foreign  entities shall not take real
     7  property within this state and shall only transfer or  dispose  of  real
     8  property  within  this state to a person or entity eligible to take such
     9  real property under this section:
    10    (a)  a governmental entity of a foreign country of particular  concern
    11  or  an  entity of particular concern, as identified by the United States
    12  department of state;
    13    (b)  a company or other entity that is owned by  or  the  majority  of
    14  stock  or  other  ownership interest of which is held or controlled by a
    15  company or entity that is:
    16    (i)  headquartered in any foreign country of  particular  concern,  as
    17  identified by the United States department of state;
    18    (ii)    directly or indirectly held or controlled by the government of
    19  any foreign country  of  particular  concern  or  entity  of  particular
    20  concern, as identified by the United States department of state; or
    21    (iii)    owned by or the majority of stock or other ownership interest
    22  of which is held or controlled by individuals who are  citizens  of  any
    23  foreign country of particular concern or members of an entity of partic-
    24  ular concern, as identified by the United States department of state; or
    25    (c)   an individual who is a citizen of any foreign country of partic-
    26  ular concern or is a member of an entity of particular concern, as iden-
    27  tified by the United States department of state.
    28    § 2. If any clause, sentence, paragraph, section or part of  this  act
    29  shall  be  adjudged by any court of competent jurisdiction to be invalid
    30  and after exhaustion of all further judicial review, the judgment  shall
    31  not  affect,  impair  or  invalidate the remainder thereof, but shall be
    32  confined in its operation to the clause, sentence, paragraph, section or
    33  part of this act directly involved in the controversy in which the judg-
    34  ment shall have been rendered.
    35    § 3.  This act shall take effect immediately.