New York S 5651: Prohibits the acquisition of real property by foreign countries and entities of particular concern

Bill Text

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S05651 Summary:

BILL NOS05651 

&nbsp

SAME ASSAME AS A01452

&nbsp

SPONSORASHBY

&nbsp

COSPNSRHELMING, WEIK

&nbsp

MLTSPNSR

&nbsp

Amd §10, RP L

&nbsp

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.

Go to top S05651 Actions:

BILL NOS05651 

&nbsp

02/26/2025REFERRED TO JUDICIARY

01/07/2026REFERRED TO JUDICIARY

Go to topS05651 Committee&nbspVotes:

Go to topS05651 Floor&nbspVotes:

There are no Assembly votes for this bill in this legislative session.

Go to topS05651 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 5651

 2025-2026 Regular Sessions

 IN SENATE

 February 26, 2025
 ___________

 Introduced by Sens. ASHBY, WEIK -- read twice and ordered printed, and
 when printed to be committed 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
 23 property shall pass from time to time without any further conveyance to

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

 S. 5651 2

 1 the respective successors in such office, who shall have full power to
 2 dispose of such property.
 3 4. On and after the effective date of the chapter of the laws of two
 4 thousand twenty-five that amended this section, the following nonciti-
 5 zens, foreign governments, and foreign entities shall not take real
 6 property within this state and shall only transfer or dispose of real
 7 property within this state to a person or entity eligible to take such
 8 real property under this section:
 9 (a) a governmental entity of a foreign country of particular concern
 10 or an entity of particular concern, as identified by the United States
 11 department of state;
 12 (b) a company or other entity that is owned by or the majority of
 13 stock or other ownership interest of which is held or controlled by a
 14 company or entity that is:
 15 (i) headquartered in any foreign country of particular concern, as
 16 identified by the United States department of state;
 17 (ii) directly or indirectly held or controlled by the government of
 18 any foreign country of particular concern or entity of particular
 19 concern, as identified by the United States department of state; or
 20 (iii) owned by or the majority of stock or other ownership interest
 21 of which is held or controlled by individuals who are citizens of any
 22 foreign country of particular c