United States:
Proposed Amendment To NY RPAPL 881 Marks Huge Impact On Construction Industry
05 February 2024
Meister Seelig & Fein
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On February 28, 2023, the New York Senate passed Bill S8430A to
amend the New York Real Property Actions and Proceedings Law
Section 881 ("RPAPL 881"). The amendment bill has
significant support in the New York State Legislature and has
already passed in the Senate by a near unanimous 62-1 vote. The
bill is currently in the legislature's Assembly Committee. If
this amendment is adopted, it will significantly impact the
construction industry in New York City.
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