New York HOA Resale Certificate Requirements and Delivery Timeline

New York HOA Resale Certificate Requirements and Delivery Timeline

New York does not mandate a single statewide resale certificate form, but Real Property Law Article 9-B requires your condominium board to provide detailed financial records and governing documents when a unit owner requests them for a sale. Section 339-w of the Real Property Law requires the board of managers to keep detailed records of receipts and expenditures and make them available for examination by any unit owner at convenient hours of weekdays. When a unit owner is selling, the buyer's attorney will request a package of documents from your board, and your bylaws under Section 339-v will specify the procedure and timeline. Your board must respond within the timeframe stated in your bylaws, typically 10 to 15 business days.

The New York Attorney General Real Estate Finance Bureau oversees condominium offering plans and sponsor disclosures under General Business Law Section 352-e, but resale transactions between unit owners fall outside Martin Act jurisdiction. Your board's duty to provide accurate records flows from the common law fiduciary standard in Business Corporation Law Section 717, which requires directors to perform duties in good faith and with the degree of care that an ordinarily prudent person would exercise in similar circumstances. If your board withholds records or provides incomplete information, a buyer or seller may file a complaint with your association's attorney or seek judicial relief.

What Must Be Included in a New York Condominium Resale Package

Your resale certificate package should contain the following documents and statements. This checklist ensures compliance with Real Property Law Article 9-B and protects your board from claims of incomplete disclosure.

Governing Documents

1. Declaration of condominium recorded under Section 339-e.
2. Bylaws as amended under Section 339-v.
3. Current house rules and regulations.
4. Certificate of incorporation or organizational documents for the board of managers entity.
5. Most recent offering plan amendment filed with the New York Attorney General Real Estate Finance Bureau, if your building is still under sponsor control or within the transition period described in Section 339-jj.

Financial Records

1. Statement of current common charges for the unit being sold, including any special assessments or fees.
2. Statement of arrears or liens on the unit under Section 339-z. If the unit has unpaid common charges, the board must disclose the amount, the date the lien was filed, and the priority status under Section 339-aa.
3. Annual financial summary provided to all unit owners under Section 339-w, covering the most recent fiscal year.
4. Current year operating budget and any approved capital budget.
5. Reserve fund balance and most recent reserve study, if your association maintains a reserve fund.
6. Statement of any pending litigation or known claims against the association or the unit owner.
7. Insurance certificate or declaration page showing the association's master policy coverage.

Compliance and Inspection Documents (NYC Buildings)

If your condominium is located in New York City, your resale package must include additional compliance documents mandated by city law.

1. Most recent Local Law 11 facade inspection report (TR6 form) filed with the NYC Department of Buildings under Administrative Code Section 28-302. Buildings greater than six stories must inspect exterior walls and appurtenances every five years. Cycle 10 runs from 2025 to 2029. If your building has not filed its TR6 for the current cycle, disclose the date by which the inspection is due.
2. Most recent Local Law 97 annual emissions report filed with the NYC Department of Buildings under Administrative Code Section 28-320. Buildings greater than 25,000 gross square feet must file emissions data by May 1 of each year. The 2025 emissions report was due May 1, 2025, and the 2025 calendar year emissions report will be due May 1, 2026. If your building exceeded its emissions limit, disclose the penalty amount at $268 per metric ton of CO2 equivalent over the cap.
3. Statement of any outstanding violations or notices from the NYC Department of Buildings, including elevator inspection reports, boiler inspection reports, and fire safety compliance.

Management and Contact Information

1. Name, address, and contact information for the current managing agent, if your board uses professional management.
2. Name and contact information for the board president or designated board contact for resale inquiries.
3. Name and contact information for the association's attorney.

A concrete example: the Riverside Park Condominium Association in Manhattan received a resale certificate request in March 2025. The buyer's attorney requested the package within 10 business days per the association's bylaws. The board's management company prepared a 47 page package that included the declaration, bylaws, 2024 financial summary, 2025 budget, the most recent Local Law 11 TR6 report filed in 2023, and the 2024 Local Law 97 emissions report filed in May 2025 showing the building was 18 metric tons under its limit. The unit had no arrears, so the board issued a zero lien statement. The package was delivered electronically on day 9, and the closing proceeded on schedule.

What Fees Can Your Board Charge

New York law does not cap the fee your board may charge for preparing a resale certificate, but your bylaws or house rules may specify a maximum. Most New York City condominium associations charge between $250 and $500 for a standard resale package. If the request is a rush order with a delivery deadline shorter than your bylaws require, your board may charge a higher fee, typically $750 to $1,000. Your board should adopt a fee schedule by board resolution and disclose it in your house rules or on your association website.

Your board may not condition delivery of the resale package on payment of the seller's outstanding common charges or fees unrelated to the resale certificate. Section 339-z gives your board a lien for unpaid common charges, but that lien must be disclosed in the resale package, not used to withhold documents. If the seller refuses to pay the resale certificate fee, your board may delay delivery until the fee is paid, but you must still meet the deadline in your bylaws once payment clears.

When Must You Deliver the Resale Package

Your association's bylaws under Section 339-v will state the deadline for delivering a resale certificate after a unit owner or buyer requests it. If your bylaws are silent, a reasonable standard is 10 to 15 business days from the date your board receives a written request and the applicable fee. New York courts have held that unreasonable delay in providing association records may support a claim for breach of fiduciary duty under Business Corporation Law Section 717, so your board should document the date of each request, the date of delivery, and the method of delivery.

If your board needs additional time to gather compliance documents such as a Local Law 97 emissions report or a reserve study update, notify the requesting party in writing within five business days and provide an estimated delivery date. Most buyers and their attorneys will grant a reasonable extension if you communicate promptly.

What to Do When a Unit Has Unpaid Common Charges

If the unit being sold has unpaid common charges, your board must disclose the amount, the lien filing date, and the priority status in the resale certificate. Section 339-aa gives the board a lien for up to six months of unpaid common charges with priority over most claims except first mortgages of record. The lien is filed in the office where the declaration is recorded, typically the county clerk's office.

Your board should include a payoff statement showing the total amount due as of the closing date, including principal, interest, late fees, and attorney fees if your board has referred the account to counsel. The payoff statement should specify the per diem interest rate so the closing agent can calculate the exact payoff at closing. If the buyer assumes responsibility for the arrears, your board must update the lien to reflect the new owner's obligation.

Cooperative Resale Certificates

New York cooperative housing corporations are governed by Business Corporation Law Section 717 and the cooperative's proprietary lease and bylaws, not Real Property Law Article 9-B. Cooperative boards issue a different document called a sale approval package or board package, which includes financial statements, minutes, and maintenance records. The cooperative board reviews the buyer's financial qualifications and may approve or reject the sale. Cooperative resale procedures vary widely by building, and most cooperative boards charge a flip tax or transfer fee at closing. Consult your attorney for your specific situation if your board governs a cooperative rather than a condominium.

What Your Board Should Do Now

Pull your association's bylaws and confirm the resale certificate delivery deadline. If your bylaws do not specify a deadline, adopt a board resolution setting a 10 business day standard for routine requests and a 15 business day standard for rush requests. Create a resale certificate checklist that includes every document listed in this guide, plus any additional items required by your governing documents or local ordinances.

If your building is located in New York City and subject to Local Law 11 or Local Law 97, confirm that your most recent facade inspection report and emissions report are on file with the NYC Department of Buildings. The 2025 emissions report was due May 1, 2025, and the 2025 calendar year emissions report will be due May 1, 2026. If your building is in Cycle 10 of the Local Law 11 program, your TR6 report must be filed by the end of 2029. Missing these deadlines creates violations that must be disclosed in every resale certificate until cured.

Adopt a fee schedule for resale certificates by board resolution. Post the fee schedule on your association website or in a member portal so unit owners know the cost before requesting a package. Communicate with your managing agent or board secretary to ensure that every resale certificate request is logged, tracked, and delivered on time.

Consult your attorney for your specific situation to review your resale certificate process and confirm that your package meets all disclosure requirements under Real Property Law Article 9-B and any applicable city ordinances. A thorough resale certificate protects your board from claims of incomplete disclosure and helps buyers close on schedule.

How Manorway Helps Your Board Manage Resale Requests

Manorway's AI assisted platform tracks resale certificate requests, stores governing documents and compliance reports, and generates delivery reminders so your board meets every deadline. You can upload your Local Law 97 emissions reports, Local Law 11 TR6 forms, and annual financial summaries to a secure document library, then assemble a complete resale package in minutes. When your board uses a central platform to manage resale workflows, you reduce the risk of missing deadlines and create an audit trail that protects the board in disputes.