Sec. 83.8. Statement on shared appreciation agreement

Latest version.

Each shared appreciation agreement executed pursuant to the provisions of section 6-f of the Banking Law must contain a conspicuous legend at the top of the agreement printed in at least 14-point type, consisting of substantially the following language: “IN THIS AGREEMENT, YOU ARE GIVING AWAY SOME OF ANY FUTURE APPRECIATION IN THE VALUE OF YOUR HOME. PLEASE READ CAREFULLY.”

                    
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