<P> 6 - Year Statute of Limitations - Within 6 years, an equity seller may bring an action for the recovery of damages or equitable relief against an equity purchaser for a violation of HEPTA . A court may award actual damages plus reasonable attorneys' fees and costs . The court is also authorized to award equitable relief of up to 3 times the actual damages . </P> <P> There are also criminal penalties for violation of prohibited behavior listed in Subdivision 7: </P> <P> Violation "with intent to defraud" = class E felony, subject to imprisonment and a fine of not more than $25,000 . "Knowingly violates" = Class A misdemeanor, subject to a fine of not more than $25,000 and imprisonment in accordance with the penal law, or both . </P> <P> A mortgage broker or bank making a loan with knowledge that the equity purchaser is not complying with HEPTA is subject to penalties under Banking Law § 595 - a . These criminal penalties are in addition to the risk that the equity seller will rescind and thereby jeopardize the encumbrancer's interest in the property . </P>

If a purchaser violates hetpa with the intent to defraud the purchaser could be subject to