13 CRR-NY 24.7NY-CRR

OFFICIAL COMPILATION OF CODES, RULES AND REGULATIONS OF THE STATE OF NEW YORK
TITLE 13. DEPARTMENT OF LAW
CHAPTER II. SECURITIES TRANSACTIONS AND PERSONNEL
SUBCHAPTER B. REAL ESTATE SYNDICATES
PART 24. TIMESHARE OFFERING PLANS
13 CRR-NY 24.7
13 CRR-NY 24.7
24.7 Description of property.
Except as provided in subdivision (bb) of this section, each offering plan submitted must include a comprehensive description of the timeshare buildings and property and buildings and property outside the immediate timeshare regime which timeshare owners have the right to use and occupy as part of the timesharing plan (at no additional charge or at a discount from rates charged to the general public). If any materials being used are not new, the condition should be fully described. Describe and set forth outline specifications for all applicable items in the order listed below. If the building is undergoing partial rehabilitation, describe the condition of the major systems that are not being rehabilitated and are likely to require major upgrading within the next five years, and highlight as a special risk.
(a) Location and use of property.
State whether this property and proposed use will comply with all zoning and use requirements. Include in discussion:
(1) address;
(2) block and lot number;
(3) zoning; and
(4) permissible use.
(b) Status of construction.
State:
(1) year built;
(2) class of construction;
(3) certificate of occupancy (type and number), if any; and
(4) alteration permit numbers and description of work done.
(c) Site.
Discuss:
(1) size;
(2) number of buildings and use;
(3) streets owned or maintained by the project:
(i) paving (material and condition);
(ii) curbing (material and condition);
(iii) catch basins, drainage (location and condition);
(iv) street lighting (material, type, location and condition);
(4) drives, sidewalks and ramps:
(i) paving (material and condition);
(ii) curbing (material and condition);
(iii) catch basins, drainage (location and condition); and
(iv) street lighting (material, type, location and condition).
(d) Utilities.
Identify source or provider of each utility. Specifically identify which are public utilities or regulated companies and which are solely the obligation of the timeshare regime. Indicate whether water, sewer (or septic tank), gas, electric and telephone are metered individually, collectively or by any other method of billing.
(e) Subsoil conditions.
Describe (including water conditions):
(1) whether uneven foundation movement or settling has occurred (cracking, mortar joint decay, etc.);
(2) whether there is any evidence of moisture or seepage or ground-water infiltration and, if any, indicate whether corrective action is needed; and
(3) whether there is any danger from flooding, either due to water table in area or overflow from other bodies of water, noting the potential for mudslides or erosion and what preventive action is appropriate.
(f) Landscaping and enclosures.
Describe:
(1) grass cover (type, location);
(2) plantings (type, location);
(3) trees (location);
(4) fencing (type, location);
(5) gates (type, location);
(6) garden walls (type, location);
(7) retaining walls (type, location); and
(8) display pools and foundations (location, materials).
(g) Building size.
Specify:
(1) total height (approximate total feet from ground level to highest part of roof);
(2) crawl spaces (floor to ceiling, height);
(3) number of subcellars and cellars;
(4) number of floors (actual, including penthouses—give floor-to-ceiling height if not between 7 ½ and 8 ½ feet);
(5) equipment rooms (location and use); and
(6) parapet (height above roof).
(h) Structural system.
Describe materials used, include type of foundations(s) and method of installation. Specify:
(1) Exterior of buildings.
(i) Walls. List materials, type of construction, method of construction. For New York City buildings, if Local Law 10 applies, state the results of the inspection. If Local Law 10 is inapplicable, so state. If such inspection is required but not performed, specify as a violation. If insulated, describe material, type, size and insulating value where available.
(ii) Windows. Specify type and materials in all parts of the building, including sills, screens, window guards, lintels, storm sash, hardware, single or double glazing and caulking. Indicate whether lot line windows exist and describe any potential future problems.
(2) Parapets and copings.
State type of materials, how firmly secured in place and whether there is any indication of problems (e.g., leakage, spalling, deterioration of mortar, cracking, etc.).
(3) Chimneys and caps.
Indicate number, location and material of each chimney for boilers, incinerators, compactors and fireplaces. If fireplaces are not usable for wood fires, this fact must be conspicuously disclosed.
(4) Balconies and terraces.
Describe:
(i) deck finish (material);
(ii) balustrade (type, material);
(iii) railings (material);
(iv) copings (material);
(v) soffits (material); and
(vi) doors to balconies and terraces (type, material).
(5) Exterior entrances.
Describe:
(i) exterior doors and frames (material, type, lock);
(ii) vestibule doors and frames (material, type, lock);
(iii) exterior stairs (material, location);
(iv) railings (material, location);
(v) mailboxes (type, location); and
(vi) lighting (type, location).
(6) Service entrances.
Describe:
(i) doors and frames (material, type, lock);
(ii) gates (material, type, lock);
(iii) exterior stairs (material, location); and
(iv) railings (materials, location).
(7) Roof and roof structures.
Describe:
(i) type roofs for all areas:
(a) material;
(b) insulation (size, type and insulating value if available);
(c) surface finish;
(d) bond or guarantee; and
(e) flashing materials, including counter flashing;
(ii) drains:
(a) location, material and type; and
(b) gutters and leaders (type, material);
(iii) skylights (location, type, material);
(iv) bulkheads:
(a) stairs (materials);
(b) elevator (materials); and
(c) other.
(v) metal work at roof levels:
(a) exterior, metal stairs (materials);
(b) vertical ladders, including gooseneck (material);
(c) railings (material);
(d) hatches to roof (type, material); and
(e) other; and
(vi) rooftop facilities (describe in detail).
(8) Fire escapes.
Describe at each floor and specify any unusual access situations:
(i) location (describe how attached and supported);
(ii) floors covered;
(iii) drop ladder;
(iv) type; and
(v) materials.
(9) Yard and courts.
Describe each yard or court, including front, rear and interior areas, listing methods of access:
(i) paving (material);
(ii) drainage (type and material);
(iii) railings (material);
(iv) stairs (material);
(v) fencing (type and material); and
(vi) walls (type and material).
(10) Interior stairs.
Describe:
(i) number of stairs of each type;
(ii) enclosure construction and interior finishes;
(iii) stair construction (steel, concrete, wood);
(iv) stringers (material);
(v) treads (material);
(vi) risers (material);
(vii) guardrails (material); and
(viii) balustrade (material).
(11) Interior doors and frames.
Describe material, type and location for each, and state whether fireproof or exceeds fire/safety standards:
(i) unit entrance and interior doors and frames;
(ii) corridor doors and frames;
(iii) stair hall doors and frames; and
(iv) roof doors, basement doors and frames.
(12) Elevators.
Describe:
(i) number of passenger and service elevators;
(ii) manufacturer, age of each and capacity (in pounds and number of passengers);
(iii) type of operation for each elevator by elevator number or location in building (for large numbers of elevators, describe by class—passenger/freight);
(iv) automatic (type of controls);
(v) floors served;
(vi) type (hydraulic, gearless);
(vii) doors (sliding, swinging, manual, automatic);
(viii) location of machine rooms;
(ix) DC to motor (manufacturer);
(x) AC to motor-generator set (manufacturer); and
(xi) other.
(13) Elevator cabs.
Describe:
(i) kind (manufacturer);
(ii) floor (material);
(iii) walls (material);
(iv) ceiling (material);
(v) lighting (describe); and
(vi) alarm, safety system.
(i) Auxiliary facilities.
(1) Laundry rooms.
Describe:
(i) location and number of rooms;
(ii) clothes washers, number and type (e.g., heavy duty, coin-operated, electric, gas);
(iii) clothes dryers (number and type);
(iv) room ventilation (method and final exhaust); and
(v) dryer ventilation (method and final exhaust).
(2) Refuse disposal.
Describe, including:
(i) incinerator(s) (number, location, capacity, type, manufacturer);
(ii) compactor(s) (number, location, capacity, type, manufacturer);
(iii) approvals by authority having jurisdiction (date of each approval);
(iv) initial storage location (ultimate storage location); and
(v) pickup schedule, and whether public or private provider.
(j) Plumbing and drainage.
(1) Water supply.
Describe system, pumps, storage and location.
(2) Fire protection system.
Describe:
(i) standpipes (material, size, location);
(ii) hose racks, hoses and nozzles (location);
(ii) sprinkler heads (type system, location); and
(iv) siamese connection (type, location).
(3) Water storage tank(s) and enclosures.
Describe:
(i) number, type, location of each;
(ii) material (interior, exterior and roof of tank);
(iii) access to tank (e.g., vertical gooseneck ladder);
(iv) capacity (total gallons); and
(v) capacity (fire reserve).
(4) Water pressure and how maintained.
(5) Sanitary sewage system.
Describe, including:
(i) sewage piping (materials);
(ii) sewage pumps (if any); and
(iii) sewage disposal (public/private, treatment, drainfield, sewer).
(6) Permit(s) required.
List, and include date(s) obtained.
(7) Storm drainage system.
Describe system, adequacy of method of disposal and materials, including:
(i) catch basins (location);
(ii) yard and roof drains (location);
(iii) piping (materials); and
(iv) eject or sump pumps (describe in detail and describe conditions requiring pumps).
(k) Heating.
Describe (including space heating and domestic hot water heating):
(1) heating and distribution of domestic hot water, and whether capable of providing peak-required services. Describe heating system's ability to maintain legally required conditions under anticipated weather conditions, specifying internal temperature and ambient temperature used in calculations;
(2) number of boilers and description;
(3) manufacturer and age of boiler(s) (model, capacity; alternatively give type, approximate age and approximate remaining useful life);
(4) manufacturer and age of burners (model; alternatively give type and approximate remaining useful life);
(5) type of controls;
(6) radiators, piping, insulation, valves, pumps;
(7) fuel (for oil, give type and grade);
(8) location of oil tank, materials, enclosure;
(9) capacity of oil tank; and
(10) for gas (details on type and supply system).
(l) Gas supply.
If not described above, describe:
(1) type;
(2) meters; and
(3) piping.
(m) Air conditioning.
Describe cooling system's adequacy to maintain comfortable conditions under anticipated weather conditions, specifying internal temperature and base ambient temperature used in calculations. Describe:
(1) type of system;
(2) central system (give manufacturer, model and capacity);
(3) cooling towers, condensers (rooftop, self-contained units, including number, location and description); and
(4) individual units covered by the offer (window/sleeve—specify number, capacity, amperage and efficiency).
(n) Ventilation.
Describe system in kitchens, fireplaces, and all windowless areas such as corridors, garages, laundries, baths, etc.
(o) Electrical system.
Specify:
(1) service from main service switch gear (amperes, voltage, phases, wire, protective equipment);
(2) service to individual units (risers, etc.);
(3) compartment switch gear (location and floor of sectional meter boards and transformers supplying power to the meter boards);
(4) unit service (ratings of main fuses, circuit breakers or fuses to units and ratings);
(5) adequacy.
Specify:
(i) service—average number of circuits per apartment and capacity to handle modern appliances; specifically, air conditioners, dishwashers and electric dryers;
(ii) lighting and fixtures; and
(iii) convenience outlets, appliance outlets; and
(6) intercommunication and/or door signal systems.
(p) Television reception facilities.
Master antennae, cable TV, security closed-circuit TV.
(q) Public area lighting.
Describe and state adequacy (entrances, halls and stairs, corridors, basements, courts and yards).
(r) Garages and parking areas.
Describe:
(1) location of garages (description of facility);
(2) location of parking areas (number of spaces in each);
(3) surfaces (materials used, lighting, fencing, etc.);
(4) parking (attended or not attended);
(5) garage ventilation (method and equipment);
(6) garage fire protection (method and equipment); and
(7) drainage.
(s) Swimming pool(s).
Describe in detail:
(1) type (concrete, material composition) and location on property;
(2) size, including length, width, depth and approximate number of bathers permitted at any time;
(3) enclosure (material, including roof);
(4) pumping and filter system (describe material);
(5) water-heating equipment, or usage of building's hot water (feed or heat exchangers); and
(6) if on building roof, specify structural support system.
(t) Tennis courts, playgrounds and recreation facilities.
(1) Tennis courts.
Describe:
(i) type (clay, macadam, turf);
(ii) number and size;
(iii) lighting (number and type); and
(iv) fencing or enclosure (including distance between fence or enclosure and all sides of court).
(2) Playgrounds.
Describe location and size(s) of playground(s), fencing (if any), equipment types, and sand bed or safety padding.
(3) Other recreation facilities.
Describe any beach or lakefront, boating facilities, golf course(s), handball, basketball or other game courts.
(u) Permits and certificates.
List all applicable permits which must be obtained and inspections which are to be done. List type of inspection, authority inspecting, and duration of approval once obtained; include all compactors, incinerators, boilers, oil storage tanks, elevators, etc. In New York City, include Bureau of Air Resources, Elevator Safety, Boiler Safety, Fire Department and Department of Buildings permits.
(v) Violations.
List all violations outstanding as of the date of this report and the agency imposing the violation, the condition involved, the date the violation issued, and work required by violation notice to cure. If no violations are outstanding, so state.
(w) Unit information.
Specify the number of units inspected. Specify the unit designations for each typical unit or line of units, including the number and type of rooms. Give criteria for calculations. For lofts, give useable residential space in square feet. Describe (include foyers, living rooms, dining areas, kitchen, bedrooms, bathrooms, etc.):
(1) type and grade of finish material used in each type of unit and the number of coverings given. Include paint, wall and floor coverings, as well as specifying the type of flooring, walls and ceiling used;
(2) presence, type and condition of all bathroom fixtures;
(3) presence, type and condition of kitchen and laundry equipment.
(i) If data is substantially the same for all units, a single narrative may be substituted for this schedule.
(ii) If any equipment or fixtures described are not included in the offering price, or the offering price is conditioned on the equipment and fixtures selected, such fact must be conspicuously noted in the body of the plan.
(x) Finish schedule of spaces other than units.
The following is a form of schedule to be given for each floor.
RoomFloorWallsCeilingRemarks
Show all common rooms and spaces, including but not limited to: Sub-subcellar, subcellar, basement, first floor, penthouse floor, public and service halls, corridors, lobbies.
(y) Safety and warning devices.
Describe any fire or smoke safety devices installed in units and common areas. State what devices are required by law, and whether any required devices have not been installed.
(z) Additional information required.
Include the following in the Description of Property section of the plan:
(1) a site plan, showing roads, the outside dimensions of the building and clearly designated common areas, including recreation and refuse disposal areas, if more than one building is being offered;
(2) an area map, showing the location of the timesharing plan with respect to its surroundings; and
(3) floor plans for each unit, drawn to scale and showing room dimensions.
(aa) Asbestos.
(1) State whether asbestos containing material (ACM) is present in insulating or fireproofing material anywhere in the timeshare building(s) and building(s) outside the immediate timeshare regime which timeshare owners have the right to use and occupy as part of the timesharing plan (at no additional charge or at a discount from rates charged to the general public). Sponsor shall perform such tests as are necessary to make such determination. In the event that ACM is present, sponsor shall have a person who is qualified to render an opinion on asbestos prepare a report on the asbestos in the building(s) (the asbestos report). Such asbestos report shall contain at least the following information:
(i) the qualifications of the person preparing the report;
(ii) a detailed inventory of the asbestos in each unit and in all other areas of the property, including the location, amount of ACM, type and concentration of asbestos in the ACM, and condition. At least 10 percent of all units must be inspected in an initial inspection. If ACM is found in any of these units, a second inspection must be performed in all remaining accessible units. List units inspected;
(iii) recommendations for handling each and every item of the asbestos inventory, i.e., removal, enclosure, encapsulation, or leaving undisturbed;
(iv) how the recommendations should be implemented. Include, if applicable, whether units must be vacated or whether use of certain rooms will be limited and the projected duration thereof. State whether the work must be performed in compliance with any applicable law; and
(v) a recommended protocol for the future handling and maintenance of asbestos which will remain in the building(s), whether encapsulated, enclosed or left undisturbed.
(2) The provisions of this subdivision shall take effect on March 1, 1989.
(i) Proposed offering plans submitted to the Department of Law on or after March 1, 1989 shall contain a statement as to whether ACM is present in the building(s) and, if so, shall contain an asbestos report.
(ii) Offering plans submitted and/or accepted for filing between January 1, 1989 and February 28, 1989 shall be revised or amended no later than May 1, 1989 to include a statement as to whether ACM is present in the building(s) and, if so, shall be revised or amended to include an asbestos report no later than July 1, 1989. Such plans shall not be declared effective until 30 days after such a statement and report are incorporated in an amendment and presented to purchasers.
(iii) Offering plans accepted for filing prior to March 1, 1989 in which any intervals remain unsold shall be amended no later than May 1, 1989 to include a statement as to whether ACM is present in the building(s) and, if so, shall be revised or amended to include an asbestos report no later than July 1, 1989. If before such an amendment is accepted for filing the sponsor seeks to declare the plan effective, close, or sell unsold intervals, the sponsor shall amend the offering plan to inform prospective purchasers that such statement and asbestos report are forthcoming. Such amendment shall give purchasers the opportunity to delay closing until 30 days after the amendment containing such statement and asbestos report have been distributed to them.
(bb) Where all or substantially all of the timeshare offering is comprised of newly constructed units and facilities, the architect's/engineer's report described above may be replaced with the following:
(1) a certification by a registered architect or licensed engineer pursuant to section 24.4(c)(4) of this Part. If construction is not complete, the offering plan may state that such certification will be added to the offering plan upon completion of construction but before the first closing;
(2) a statement by the sponsor that copies of all technical reports, such as those prepared for lending institutions, have been and will be delivered to the Department of Law and are available for inspection at the sales office;
(3) a statement by the sponsor that in the event of litigation against the sponsor in which allegations of construction defects are made, the sponsor will stipulate and acknowledge that the claimant(s) relied upon the information contained in the filed plans and specifications.
The Department of Law may, in its discretion, require the detailed architect's/engineer's report described above in subdivisions (a)-(aa) of this section and the sponsor may elect to submit such a detailed report instead of the certifications and statements permitted under this section.
(cc) Lead-based paint.
Include records, reports, violations and any other information known or available to the sponsor or its agents concerning the presence of lead-based paint and/or lead-based paint hazards.
13 CRR-NY 24.7
Current through July 31, 2021
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