New York § 119 - 119Options to purchase property or awards
Full text of New York New York Consolidated Laws § 119 — 119Options to purchase property or awards, with citation guidance and answers to common questions.
§ 119. 119Options to purchase property or awards
§ 119. Options to purchase property or awards. A municipality or authority may at any time secure options in its own name or in the name of nominees to purchase property or any interest therein or awards in condemnation made or to be made therefor. No consideration need be given or paid by a municipality or authority to the person, firm, or corporation giving the option. The option granted to the municipality or authority to purchase such real property or award shall not be withdrawn or cancelled during the period named therein. Any such option may be extended by the optionor for a period or periods beyond the period named therein. The option shall be in such form that acceptance thereof by the municipality or authority within the time limited therein, or within any extended period, will create a binding contract for the sale of the real property or award described therein.
Source: official New York text · Last verified 2026-08-27
Frequently Asked Questions About New York § 119
What does New York Consolidated Laws § 119 cover?
Section 119 ("119Options to purchase property or awards") is part of the New York Consolidated Laws, the codified statutory law of New York. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite New York § 119?
A common citation format is "New York Consolidated Laws § 119" (New York). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of New York law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the New York official source linked on this page or consult a licensed New York attorney.
How does New York § 119 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in New York can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in New York.