It is the purpose of this chapter to set forth an administrative procedure to allow new owners of multiple dwellings and other appropriate units in the City of New York the opportunity to correct violations while being assured that legal actions will not be brought against such new owners and that civil penalties accruing to the Department of Housing Preservation and Development will be stayed during the correction period. Pursuant to the procedure set forth herein, a new owner may seek to limit his or her liability while attempting to achieve correction of violations. The regulations created herein institute uniform procedures for an application for such a stay of legal actions, the basis upon which a determination of such application shall be made, the condition upon which a stay may be granted, the revocation of a stay, and the effect of compliance and non-compliance by a new owner with the conditions of a stay.
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