NY State Assembly Bill A3518A

Archive: Last Bill Status - In Assembly Committee

Introduced
In Committee
On Floor Calendar
- Passed Senate
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Actions

view actions (9)

	Assembly Actions - Lowercase Senate Actions - UPPERCASE
Jan 06, 2010	referred to judiciary
Jun 22, 2009	ordered to third reading rules cal.529 rules report cal.529 reported
Jun 18, 2009	reported referred to rules reported referred to codes
Jun 15, 2009	print number 3518a
Jun 15, 2009	amend (t) and recommit to judiciary
Jan 27, 2009	referred to judiciary

Bill Amendments

Original

A (Active)

Original

A (Active)

A3518 - Details

Current Committee:: Assembly Judiciary
Law Section:: Real Property Law
Laws Affected:: Amd §291, RP L
Versions Introduced in Other Legislative Sessions:: 2011-2012: A4748
2013-2014: A4813
2015-2016: A6685
2017-2018: A1785
2019-2020: A440

A3518 - Summary

Provides for a notice of conveyance of real property to be sent to the owners of record of residential real property; provides persons filing for conveyance shall bear the cost of mailing.

A3518 - Bill Text download pdf

                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  3518

                       2009-2010 Regular Sessions

                          I N  A S S E M B L Y

                            January 27, 2009
                               ___________

Introduced  by M. of A. PERRY -- Multi-Sponsored by -- M. of A. BENEDET-
  TO,  BOYLAND,  BROOK-KRASNY,  CHRISTENSEN,  CLARK,  COLTON,  DelMONTE,
  ESPAILLAT,  GALEF, GLICK, GREENE, HIKIND, HYER-SPENCER, KELLNER, KOON,
  V. LOPEZ, MAISEL,  MAYERSOHN,  McENENY,  MILLMAN,  REILLY,  J. RIVERA,
  ROBINSON, ROSENTHAL, SEMINERIO, SWEENEY, TITUS, TOWNS, WALKER, WEISEN-
  BERG, WRIGHT -- read once and referred to the Committee on Judiciary

AN  ACT  to amend the real property law, in relation to establishing The
  New York protect title to my home act

  THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section  1.  Short  title. This act shall be known and may be cited as
"The New York protect title to my home act".
  S 2. Section 291 of the real property law, as amended by  chapter  447
of the laws of 1984, is amended to read as follows:
  S 291. Recording of conveyances.  A conveyance of real property, with-
in  the  state,  on  being duly acknowledged by the person executing the
same, or proved as required by this chapter, and such acknowledgment  or
proof  duly  certified when required by this chapter, may be recorded in
the office of the clerk of the county where such real property is  situ-
ated,  and  such  county clerk OR CITY REGISTRAR WHERE APPLICABLE shall,
upon the request of any party, on tender of the  lawful  fees  therefor,
record  the  same in [his] said office.  THE CLERK OF THE COUNTY OR CITY
REGISTRAR WHERE SUCH CONVEYANCE OF RESIDENTIAL REAL PROPERTY IS RECORDED
AND MAINTAINED SHALL MAIL A WRITTEN NOTICE OF SUCH CONVEYANCE, NOT  LESS
THAN  THIRTY  DAYS  PRIOR  TO  THE RECORDING OF SUCH CONVEYANCE, TO EACH
OWNER OR OWNERS OF RECORD OR INTERESTED PERSON OR THE THIRD PARTY DESIG-
NEE OF SUCH OWNER OR OWNERS OF RECORD OR INTERESTED PERSON OF RECORD  TO
SUCH  REAL PROPERTY.  FOR PURPOSES OF THIS SECTION, A PERSON OF INTEREST
SHALL MEAN A PERSON HAVING A VALID LEGAL INTEREST  SUCH  AS  A  MORTGAGE
HOLDER  OR A PERSON HAVING A RECORDED LIEN ON SUCH PROPERTY.  THE NOTICE

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD02108-01-9

A. 3518                             2

SHALL HAVE THE HEADING PRINTED  IN  20  POINT  BOLD  TYPE  AND  READ  AS
FOLLOWS:
"NOTICE OF SALE OR TRANSFER OF OWNERSHIP OF YOUR RESIDENTIAL PROPERTY.
TO:______________________________
      NAME OF OWNER OF RECORD

OUR  RECORDS SHOW THAT YOU ARE LISTED AS THE CURRENT OWNER, OR PERSON OF
INTEREST, ON THE REGISTERED TITLE FOR RESIDENTIAL PROPERTY:

BLOCK # __________  LOT # ________

LOCATED AT: ___________________________
                  STREET ADDRESS

IN THE COUNTY OF __________________ NEW YORK
ON ____________, DOCUMENTS WERE FILED AT THIS
      DATE
OFFICE TO CHANGE OWNERSHIP AND TRANSFER TITLE OF YOUR PROPERTY.

TO: ______________________________
          NAME OF NEW OWNER

BY LAW, THE COUNTY CLERK OR CITY REGISTRAR MUST WAIT  THIRTY  (30)  DAYS
BEFORE  TRANSFER  OF TITLE CAN BE REGISTERED.  IF YOU HAVE ANY QUESTIONS
REGARDING THE VALIDITY OF THE DOCUMENTS, AND WISH TO DISPUTE THE RECORD-
ING  OF  THE  TRANSFER,  PLEASE  CONTACT  THE  COUNTY  CLERK'S  OR  CITY
REGISTRAR'S OFFICE BY ________________________."
                               DATE
THE  PARTY SEEKING TO RECORD SUCH CONVEYANCE SHALL BEAR THE COST OF SUCH
WRITTEN NOTICE.  SUCH COST SHALL BE PRESCRIBED BY THE  MUNICIPALITY.  IF
THE  ACTUAL  OWNER  OR  OWNERS  OF RECORD OR INTERESTED PERSON OF RECORD
EXECUTED SUCH  CONVEYANCE,  RECEIPT  OF  ANY  NOTICE  REQUIRED  BY  THIS
SECTION,  FAILURE  TO  MAIL  SUCH  NOTICE OR THE FAILURE OF ANY PARTY TO
RECEIVE THE SAME, SHALL NOT AFFECT THE VALIDITY OF THE CONVEYANCE OF THE
PROPERTY OWNED BY SUCH PERSON.  THE COUNTY CLERK OR CITY REGISTRAR SHALL
RECORD SUCH CONVEYANCE AFTER THIRTY DAYS UNLESS THE OWNER OR  OWNERS  OF
RECORD  OR  INTERESTED PERSON SHALL HAVE FILED AN AFFIDAVIT SIGNED UNDER
OATH AND UNDER PENALTY OF PERJURY THAT SUCH PERSON DID  NOT  PARTICIPATE
IN  SUCH  TRANSACTION AND DID NOT EXECUTE ANY OF THE DOCUMENTS SUBMITTED
TO RECORD SUCH CONVEYANCE AND DID NOT CONVEY  A  POWER  OF  ATTORNEY  TO
ANOTHER PERSON TO ACT ON SUCH PERSON'S BEHALF.
  WHERE  THE  CONVEYANCE OF PROPERTY WAS EXECUTED WITHOUT THE KNOWLEDGE,
CONSENT AND PARTICIPATION OF THE OWNER OR OWNERS OF RECORD, SUCH CONVEY-
ANCE SHALL BE DEEMED FRAUDULENT RENDERING VOID THE TITLE OF SUCH GRANTOR
AND TITLE SHALL REMAIN VESTED WITH THE OWNER OR OWNERS  OF  RECORD.  ANY
PERSON  WHO, WITH INTENT TO DEFRAUD, VIOLATES THIS SECTION OR ENGAGES IN
ANY PRACTICE WHICH WOULD OPERATE AS A CRIMINAL FRAUD OR DECEIT  UPON  AN
OWNER OR OWNERS OF RECORD SHALL, UPON CONVICTION, BE GUILTY OF A CLASS E
FELONY  AND  SUBJECT  TO  A  FINE  OF NOT MORE THAN TWENTY-FIVE THOUSAND
DOLLARS, IMPRISONMENT IN ACCORDANCE WITH THE PENAL  LAW,  OR  BOTH.  ANY
PURCHASER  WHO,  WHEN ACTING IN GOOD FAITH, VIOLATES THIS SECTION, SHALL
NOT BE DEEMED TO HAVE VIOLATED SUCH SECTION IF THE PURCHASER:
  (I) ESTABLISHES BY A PREPONDERANCE OF THE EVIDENCE THAT THE FRAUDULENT
CONVEYANCE WAS NOT INTENTIONAL  AND  RESULTED  WITHOUT  THE  PURCHASER'S
KNOWLEDGE;

A. 3518                             3

  (II)  NOTIFIES  THE  OWNER  OR  OWNERS  OF  RECORD AND ANY APPROPRIATE
AUTHORITY WITHIN NINETY DAYS OF HAVING KNOWLEDGE OR  BECOMING  AWARE  OF
SUCH FRAUDULENT CONVEYANCE; AND
  (III)  PROVIDES HIS OR HER FULL COOPERATION TO AUTHORITIES INVESTIGAT-
ING SUCH FRAUD. Every such conveyance not so recorded is void as against
any person  who  subsequently  purchases  or  acquires  by  exchange  or
contracts  to purchase or acquire by exchange, the same real property or
any portion thereof, or acquires by assignment the rent to accrue there-
from as provided in section two hundred ninety-four-a of [the real prop-
erty law] THIS ARTICLE, in good faith and for a valuable  consideration,
from  the  same vendor or assignor, his OR HER distributees or devisees,
and whose conveyance, contract or assignment is first duly recorded, and
is void as against the lien upon the same real property or  any  portion
thereof  arising from payments made upon the execution of or pursuant to
the terms of a contract with the same vendor, his OR HER distributees or
devisees, if such contract is made in  good  faith  and  is  first  duly
recorded.   Notwithstanding the foregoing, any increase in the principal
balance of a mortgage lien by virtue of the addition thereto  of  unpaid
interest  in  accordance with the terms of the mortgage shall retain the
priority of the original mortgage lien as so increased provided that any
such mortgage instrument sets forth its terms of repayment.
  S 3. The real property law is amended by adding a new section 292-b to
read as follows:
  S 292-B. THIRD PARTY NOTICE OF CONVEYANCE OF RESIDENTIAL REAL  PROPER-
TY. 1.  A PROPERTY OWNER MAY REQUEST THAT A NOTICE OF CONVEYANCE BE SENT
TO SUCH OWNER AND TO AN ADULT THIRD PARTY. SUCH REQUEST SHALL BE MADE ON
A  FORM  PRESCRIBED  BY  THE  STATE  BOARD AND SHALL BE SUBMITTED TO THE
RECORDING OFFICER OF THE COUNTY IN WHICH THE REAL PROPERTY IS  SITUATED.
SUCH  FORM  SHALL  PROVIDE  A SECTION WHEREBY THE DESIGNATED THIRD PARTY
SHALL CONSENT TO SUCH DESIGNATION. SUCH REQUEST SHALL BE EFFECTIVE  UPON
RECEIPT BY THE RECORDING OFFICER. THE RECORDING OFFICER SHALL MAINTAIN A
LIST  OF ALL PROPERTY OWNERS WHO HAVE DESIGNATED A THIRD PARTY RECIPIENT
OF NOTICES PURSUANT TO THIS SECTION.
  2. A NOTICE SHALL BE SENT TO THE PROPERTY  OWNER  AND  THE  DESIGNATED
THIRD  PARTY  AT LEAST THIRTY DAYS PRIOR TO THE RECORDING OF ANY CONVEY-
ANCE INVOLVING THE RESIDENTIAL REAL PROPERTY.  SUCH  NOTICE  SHALL  READ
SUBSTANTIALLY  AS FOLLOWS: "ON BEHALF OF (IDENTIFY THE PROPERTY OWNER OF
RECORD), YOU ARE ADVISED THAT THE REAL PROPERTY  SITUATED  AT  (IDENTIFY
THE  LOCATION OF THE REAL PROPERTY) IS IN THE PROCESS OF BEING CONVEYED.
YOU ARE ENCOURAGED TO CONFIRM THE VALIDITY OF THIS CONVEYANCE WITH  SUCH
PROPERTY  OWNER,  AND  TO  OFFER  ASSISTANCE IF NEEDED, ALTHOUGH YOU ARE
UNDER NO LEGAL OBLIGATION TO DO SO. YOUR COOPERATION AND ASSISTANCE  ARE
GREATLY APPRECIATED."
  3.  A  NOTICE SHALL BE SENT TO THE PROPERTY OWNER AND DESIGNATED THIRD
PARTY WHENEVER THE RECORDING OFFICER IS REQUIRED TO SEND A NOTICE TO THE
PROPERTY OWNER OF RECORD REGARDING THE PROPERTY.  THE NOTICE SHALL  HAVE
THE HEADING PRINTED IN 20 POINT BOLD TYPE AND READ AS FOLLOWS:
"NOTICE OF SALE OR TRANSFER OF OWNERSHIP OF YOUR RESIDENTIAL PROPERTY.
TO:______________________________
      NAME OF OWNER OF RECORD

OUR  RECORDS SHOW THAT YOU ARE LISTED AS THE CURRENT OWNER, OR PERSON OF
INTEREST, ON THE REGISTERED TITLE FOR RESIDENTIAL PROPERTY:

BLOCK # __________  LOT # ________

A. 3518                             4

LOCATED AT: ___________________________
                 STREET ADDRESS

IN THE COUNTY OF __________________ NEW YORK
ON ____________, DOCUMENTS WERE FILED AT THIS
      DATE
OFFICE TO CHANGE OWNERSHIP AND TRANSFER TITLE OF YOUR PROPERTY.

TO: ______________________________
          NAME OF NEW OWNER

BY  LAW,  THE COUNTY CLERK MUST WAIT THIRTY (30) DAYS BEFORE TRANSFER OF
TITLE CAN BE REGISTERED.  IF YOU HAVE ANY QUESTIONS REGARDING THE VALID-
ITY OF THE DOCUMENTS, AND WISH TO DISPUTE THE RECORDING OF THE TRANSFER,
PLEASE CONTACT THE COUNTY CLERK'S OFFICE BY ________________________."
                                                     DATE
THE COST OF SUCH NOTICE SHALL BE BORNE BY THE PERSON OR PERSONS REQUEST-
ING SUCH NOTICE.  THE COUNTY CLERK OR CITY  REGISTRAR  WHERE  APPLICABLE
SHALL  RECORD  SUCH  CONVEYANCE  AFTER  THIRTY  DAYS UNLESS THE OWNER OR
OWNERS OF RECORD OR INTERESTED PERSON  SHALL  HAVE  FILED  AN  AFFIDAVIT
SIGNED  UNDER  OATH AND PENALTY OF PERJURY THAT THEY DID NOT PARTICIPATE
IN SUCH TRANSACTION AND DID NOT EXECUTE ANY OF THE DOCUMENTS SO  SUBMIT-
TED TO RECORD SUCH CONVEYANCE.
  4.    IF  THE ACTUAL OWNER OR OWNERS OF RECORD OR INTERESTED PERSON OF
RECORD EXECUTED SUCH CONVEYANCE, RECEIPT OF ANY NOTICE REQUIRED BY  THIS
SECTION,  FAILURE  TO  MAIL  SUCH  NOTICE OR THE FAILURE OF ANY PARTY TO
RECEIVE THE SAME, SHALL NOT AFFECT THE VALIDITY OF THE CONVEYANCE OF THE
PROPERTY OWNED BY SUCH PERSON.
  5. WHERE THE CONVEYANCE OF PROPERTY WAS  EXECUTED  WITHOUT  THE  KNOW-
LEDGE,  CONSENT AND PARTICIPATION OF THE OWNER OR OWNERS OF RECORD, SUCH
CONVEYANCE SHALL BE DEEMED FRAUDULENT RENDERING VOID THE TITLE  OF  SUCH
GRANTOR  AND  TITLE  SHALL  REMAIN  VESTED  WITH  THE OWNER OR OWNERS OF
RECORD. ANY PERSON WHO, WITH INTENT TO DEFRAUD, VIOLATES THIS SECTION OR
ENGAGES IN ANY PRACTICE WHICH WOULD  OPERATE  AS  A  CRIMINAL  FRAUD  OR
DECEIT  UPON  AN  OWNER  OR  OWNERS OF RECORD SHALL, UPON CONVICTION, BE
GUILTY OF A CLASS E FELONY AND SUBJECT TO A FINE OF NOT MORE THAN  TWEN-
TY-FIVE THOUSAND DOLLARS, IMPRISONMENT IN ACCORDANCE WITH THE PENAL LAW,
OR  BOTH.  ANY  PURCHASER  WHO, WHEN ACTING IN GOOD FAITH, VIOLATES THIS
SECTION, SHALL NOT BE DEEMED  TO  HAVE  VIOLATED  SUCH  SECTION  IF  THE
PURCHASER:
  (I) ESTABLISHES BY A PREPONDERANCE OF THE EVIDENCE THAT THE FRAUDULENT
CONVEYANCE  WAS  NOT  INTENTIONAL  AND  RESULTED WITHOUT THE PURCHASER'S
KNOWLEDGE;
  (II) NOTIFIES THE OWNER OR OWNERS OF RECORD WITHIN NINETY DAYS OF  THE
CONTRACT DATE OF THE CONVEYANCE; AND
  (III)  MAKES  APPROPRIATE RESTITUTION TO THE OWNER OR OWNERS OF RECORD
AND APPROPRIATE ADJUSTMENTS TO THE TRANSACTION WITHIN NINETY DAYS OF THE
CONTRACT DATE.
  S 4. Subdivision (c) of section 379  of  the  real  property  law,  as
amended  by  chapter  640  of  the  laws  of 1991, is amended to read as
follows:
  (c) The names and places of residence with street number, if any,  and
post-office  addresses of all persons having or claiming any interest in
or lien upon the property, or any part thereof, the title  to  which  is
sought  to  be registered, and whether or not any of them are infants or
otherwise incapacitated; THE NAMES AND  ADDRESSES  OF  ANY  THIRD  PARTY

A. 3518                             5

DESIGNEE   OF   SUCH   PERSONS,  AS  PROVIDED  IN  SECTION  TWO  HUNDRED
NINETY-TWO-B OF THIS CHAPTER; the owners in fee simple of the  surround-
ing  contiguous  properties,  and  their post-office addresses so far as
they are known or can be reasonably ascertained by inquiry on such prop-
erty;  the  people  of  the  state of New York; and a designation of all
other possible owners and claimants of the  property  or  any  right  or
interest  in or lien upon the property or any part thereof as "all other
persons, if any, having any right or interest in or lien upon the  prop-
erty  affected  by  this  proceeding, or any part thereof." The petition
shall state so far as is known to the petitioner, what  claim,  if  any,
the  state  of New York makes to the property in question or what inter-
est, if any, it has therein other than the general governmental interest
or such as exists as to all land in private ownership.
  S 5. Section 412 of the real property law, as added by chapter 640  of
the laws of 1991, is amended to read as follows:
  S  412.  When a transfer is deemed to be registered. Every transfer of
registered property shall be deemed to be registered under this  article
when  such  document  has  been  filed  of  record, in the office of the
registrar of the county where the  property  is  located  and  a  serial
number  and  certificate number assigned to the instrument AND A WRITTEN
NOTICE OF SUCH TRANSFER HAS BEEN SENT BY SUCH  OFFICE  TO  EACH  OF  THE
OWNER  OR  OWNERS  OF  RECORD OR INTERESTED PERSONS OF RECORD OR A THIRD
PARTY DESIGNEE OF SUCH OWNER OR OWNERS OF RECORD OR INTERESTED PERSON OF
RECORD TO SUCH REGISTERED PROPERTY; all other dealings shall be  consid-
ered  as  registered  when  the document has been filed of record in the
office of the registrar of the county where the property is located  and
a serial number and certificate number has been assigned the instrument.
THE  PARTY  REGISTERING SUCH TRANSFER SHALL BE RESPONSIBLE FOR THE COSTS
ASSOCIATED WITH THE MAILING OF SUCH WRITTEN NOTICE.
  S 6. This act shall take effect on the ninetieth day  after  it  shall
have become a law.

Multi-Sponsors

A3518A (ACTIVE) - Details

Current Committee:: Assembly Judiciary
Law Section:: Real Property Law
Laws Affected:: Amd §291, RP L
Versions Introduced in Other Legislative Sessions:: 2011-2012: A4748
2013-2014: A4813
2015-2016: A6685
2017-2018: A1785
2019-2020: A440

A3518A (ACTIVE) - Summary

Provides for a notice of conveyance of real property to be sent to the owners of record of residential real property; provides persons filing for conveyance shall bear the cost of mailing.

A3518A (ACTIVE) - Sponsor Memo

BILL NUMBER:A3518A

TITLE OF BILL:
An act
to amend the real property law, in relation to
notice of sale or transfer of ownership of residential property

PURPOSE OR GENERAL IDEA OF BILL: : To require the
county clerk or city
register to provide notice to the owner of record when recording a
conveyance of residential real property.

SUMMARY OF SPECIFIC PROVISIONS: : This bill amends
section 291, as
amended by chapter 447 of the laws of 1984, section 292-b and section
412 of the Real Property Law Article 12 to require the county clerk
or city registrar, where applicable, to provide written notice to the
title owner of record and any interested party of the recording of
the conveyance to a new owner. The cost of recording the conveyance
shall be prescribed by the municipality and shall be charged to the
person seeking to record such conveyance or requesting the notice.

JUSTIFICATION: : According to the Federal Bureau of
Investigations
(FBI) real estate and mortgage fraud is vastly on the rise. In 2007
the FBI received 46,717 Suspicious Activity Reports related to real

estate and mortgage fraud -compared to 35,617 in 2006 and just 6,936
in 2003. Only 7% of these reports documented an exact dollar amount
in terms of losses, but even so, the total loss from this 7% was $813
million. The FBI's caseload has also escalated. By the end of fiscal
year 2007, the Bureau experienced a 47% increase in reel estate cases
from 2006 and a whopping 176% increase from 2003.

One of the more common means to defraud is through the fraudulent
transfer of land title to obtain home equity lines of Credit.
Criminals also target residential vacant properties or houses put up
for sale. In fact, the FBI reports that at least twenty percent (20%)
of all title transfers are the result of some fraud. To facilitate
these schemes, perpetrators often pose as new owner of a home in
order to transfer the title. Once the title transfer is complete the
perpetrator can use the new title to obtain a home equity line of
credit.

Among those affected by this egregious crime, the elderly are the most
vulnerable victims. Senior citizens, often owners of homes that are
fully paid for, without a mortgage, and therefore with no bank or
institution having a vested interest in their property, are
especially vulnerable to fraudulent transfers. Data from law
enforcement and industry sources were compared and mapped to
determine which areas of the country were most affected by mortgage
fraud during 2007. Information from the FBI, Mortgage Asset Research
Institute (MARI), Fannie Mae, RealtyTrac Inc., Interthinx , and
Radian Guaranty Inc., indicate that New York State was among the top
10 mortgage fraud states for 2007.

PRIOR LEGISLATIVE HISTORY: :; 2007-2008 A11801


FISCAL IMPLICATIONS: : None to the State.

EFFECTIVE DATE: This act shall take effect the
ninetieth day after it
shall become law,

A3518A (ACTIVE) - Bill Text download pdf

                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                 3518--A

                       2009-2010 Regular Sessions

                          I N  A S S E M B L Y

                            January 27, 2009
                               ___________

Introduced  by M. of A. PERRY -- Multi-Sponsored by -- M. of A. BENEDET-
  TO,  BOYLAND,  BROOK-KRASNY,  CHRISTENSEN,  CLARK,  COLTON,  DelMONTE,
  ESPAILLAT,   GALEF,   GLICK,   HIKIND,  HYER-SPENCER,  KELLNER,  KOON,
  V. LOPEZ, MAISEL,  MAYERSOHN,  McENENY,  MILLMAN,  REILLY,  J. RIVERA,
  ROBINSON, ROSENTHAL, SEMINERIO, SWEENEY, TITUS, TOWNS, WALKER, WEISEN-
  BERG,  WRIGHT  -- read once and referred to the Committee on Judiciary
  -- committee discharged, bill amended, ordered  reprinted  as  amended
  and recommitted to said committee

AN  ACT to amend the real property law, in relation to notice of sale or
  transfer of ownership of residential property

  THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1. Section 291 of the real property law, as amended by chapter
447 of the laws of 1984, is amended to read as follows:
  S 291. Recording of conveyances.  A conveyance of real property, with-
in  the  state,  on  being duly acknowledged by the person executing the
same, or proved as required by this chapter, and such acknowledgment  or
proof  duly  certified when required by this chapter, may be recorded in
the office of the clerk of the county where such real property is  situ-
ated,  and  such  county clerk OR CITY REGISTRAR WHERE APPLICABLE shall,
upon the request of any party, on tender of the  lawful  fees  therefor,
record  the  same  in [his] said office.   [Every such conveyance not so
recorded is void as against any person  who  subsequently  purchases  or
acquires  by  exchange  or contracts to purchase or acquire by exchange,
the same real property or any portion thereof, or acquires by assignment
the rent to accrue therefrom as provided in section two hundred  ninety-
four-a  of  the  real  property  law,  in  good faith and for a valuable
consideration, from the same vendor or  assignor,  his  distributees  or
devisees,  and  whose  conveyance,  contract or assignment is first duly
recorded, and is void as against the lien upon the same real property or
any portion thereof arising from payments made upon the execution of  or

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD02108-04-9

A. 3518--A                          2

pursuant  to the terms of a contract with the same vendor, his distribu-
tees or devisees, if such contract is made in good faith  and  is  first
duly recorded.  Notwithstanding the foregoing, any increase in the prin-
cipal  balance  of  a mortgage lien by virtue of the addition thereto of
unpaid interest in accordance with  the  terms  of  the  mortgage  shall
retain  the  priority  of  the  original  mortgage  lien as so increased
provided that any such mortgage  instrument  sets  forth  its  terms  of
repayment.] THE CLERK OF THE COUNTY OR CITY REGISTRAR WHERE SUCH CONVEY-
ANCE  OF RESIDENTIAL REAL PROPERTY IS RECORDED AND MAINTAINED SHALL MAIL
A WRITTEN NOTICE OF SUCH CONVEYANCE TO THE OWNER OF RECORD.  THE  NOTICE
SHALL  HAVE  THE  HEADING  PRINTED  IN  20  POINT  BOLD TYPE AND READ AS
FOLLOWS:
"NOTICE OF SALE OR TRANSFER OF OWNERSHIP OF YOUR RESIDENTIAL PROPERTY.
TO:______________________________
      NAME OF OWNER OF RECORD

OUR RECORDS SHOW THAT YOU ARE LISTED AS THE CURRENT OWNER OF RECORD  FOR
RESIDENTIAL PROPERTY:

BLOCK # __________  LOT # ________

LOCATED AT: ___________________________
                  STREET ADDRESS

IN THE COUNTY OF __________________ NEW YORK
ON ____________, DOCUMENTS WERE FILED AT THIS
      DATE
OFFICE TO CHANGE OWNERSHIP AND TRANSFER TITLE OF YOUR PROPERTY.

TO: ______________________________
          NAME OF NEW OWNER

IF  YOU  HAVE ANY QUESTIONS REGARDING THE VALIDITY OF THE DOCUMENTS, AND
WISH TO DISPUTE THE RECORDING OF THE TRANSFER, PLEASE CONTACT THE COUNTY
CLERK'S OR CITY REGISTRAR'S OFFICE BY ________________________."
                               DATE
THE PARTY SEEKING TO RECORD SUCH CONVEYANCE SHALL BEAR THE COST OF  SUCH
WRITTEN  NOTICE.    SUCH  COST  SHALL BE PRESCRIBED BY THE MUNICIPALITY.
FAILURE TO MAIL SUCH NOTICE OR THE FAILURE OF ANY PARTY TO  RECEIVE  THE
SAME, SHALL NOT AFFECT THE VALIDITY OF THE CONVEYANCE OF THE PROPERTY.
  S  2.  This  act shall take effect on the ninetieth day after it shall
have become a law.

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The New York State Senate

assembly Bill A3518A

Sponsored By

Archive: Last Bill Status - In Assembly Committee

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A3518 - Details

A3518 - Summary

A3518 - Bill Text download pdf

Multi-Sponsors

A3518A (ACTIVE) - Details

A3518A (ACTIVE) - Summary

A3518A (ACTIVE) - Sponsor Memo

A3518A (ACTIVE) - Bill Text download pdf

Comments

assembly Bill A3518A

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Sponsored By

PERRY

Archive: Last Bill Status - In Assembly Committee

Your Voice

Actions

Bill Amendments

A3518 - Details

A3518 - Summary

A3518 - Bill Text download pdf

Multi-Sponsors

Michael Benedetto

"William Boyland

Alec Brook-Krasny

Joan Christensen

Barbara Clark

William Colton

Francine DelMonte

Adriano Espaillat

Sandy Galef

Deborah Glick

Dov Hikind

Janele Hyer-Spencer

Micah Kellner

David Koon

Vito Lopez

Alan Maisel

Nettie Mayersohn

John McEneny

Joan Millman

Robert Reilly

Jose Rivera

Annette Robinson

Linda Rosenthal

Robert Sweeney

Michele Titus

Darryl Towns

Harvey Weisenberg

Keith L.T. Wright

A3518A (ACTIVE) - Details

A3518A (ACTIVE) - Summary

A3518A (ACTIVE) - Sponsor Memo

A3518A (ACTIVE) - Bill Text download pdf

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