New York § 553 - 553Conditions precedent to sale or lease
Full text of New York New York Consolidated Laws § 553 — 553Conditions precedent to sale or lease, with citation guidance and answers to common questions.
§ 553. 553Conditions precedent to sale or lease
§ 553. Conditions precedent to sale or lease. No such grant, sale, lease or conveyance under this article shall be made unless (1) the authority or municipality, after a public hearing on ten days published notice, and with the approval of the government providing the financial assistance, shall find that such transfer is in the best public interest, (2) adequate provision will be made for tenant relocation, and (3) adequate provision will be made for the payment or retirement of all bonds, notes and other obligations issued by the municipality or authority to finance the project cost.
Source: official New York text · Last verified 2026-08-27
Frequently Asked Questions About New York § 553
What does New York Consolidated Laws § 553 cover?
Section 553 ("553Conditions precedent to sale or lease") 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 § 553?
A common citation format is "New York Consolidated Laws § 553" (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 § 553 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.