New York is an equitable distribution state, which means that property must be divided as fairly as possible in a divorce. The contract between a tenant and landlord, whether based on a written lease or a handshake, is one of the most common and important deals.This booklet explains many of these laws you need to know and provides resources where you can find more information about landlord and tenant issues. Tenants have responsibilities to their building owners and other tenants - including not damaging the building, and responding to annual owner inquiries. A landlord must file two court forms to begin a Holdover Summary Proceeding: (1) a. A property settlement agreement becomes a legally binding part of the final judgment when your marriage is officially dissolved. The division of property agreement refers to any agreement that joins two or more parties without marriage.