§ 7-108

Citation: § 7-108 (d)
Parent Document: N.Y. Gen. Oblig. Law § 7-108
Jurisdiction: New York (state)
Original Source: https://www.nysenate.gov/legislation/laws/GOB/7-108 ↗

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(d) The grantee or assignee of the leased premises shall have the
right to demand that the grantor or assignor thereof establish an escrow
account equal to one month's rent for any leased premises for which
there is no record of a security deposit pursuant to paragraph (b) of
this subdivision to be used for the purpose of holding harmless the
grantee or assignee in any case where, at a date subsequent to the
closing or other transfer of title, the tenant gives notice pursuant to
paragraph (c) of this subdivision.

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