AG offering plan filing process goes digital

TRD New York /
Jan.January 30, 2012 03:30 PM

While real estate may be a brick-and-mortar business for the most part, one aspect of the industry leapt into the 21st century today.

New York Attorney General Eric Schneiderman has unveiled the next part of his plan for modernizing and streamlining his office’s oversight of the real estate business. Now, offering plans — the prospectuses one must file with the city before a condominium or co-op can be offered for sale — can now be filed electronically, according to a statement from Schneiderman’s office today.

The new policy urges developers to give prospective buyers the option of viewing plans digitally. By April 1, 2012 all prospectuses must be filed digitally, the statement said.

Schneiderman called the change “beneficial for both developers and prospective purchasers. It’s a win-win,” in the statement. He also said the new policy would encourage real estate transactions and streamline the process for buyers.

Those who prefer hard copies of prospectuses will still be able to request them from developers, the statement said. — Guelda Voien


Related Articles

arrow_forward_ios

16 candidates vie to fill out the rest of Schneiderman’s term

Real estate’s top cop, Eric Schneiderman, is out. Here’s how he changed the industry

AG settles with Allure Group over nursing home investigations

New Jersey-based lender agrees to pay $45M to settle mortgage misconduct claims

Notorious NYC landlord pleads guilty to mortgage fraud, grand larceny

Why outlet malls could soon be popping up in NYC

Landlord Daniel Melamed found guilty of illegally evicting tenants

Steve Croman pleads guilty, agrees to serve 1 year in Rikers

arrow_forward_ios