Assembly Bill A626

2011-2012 Legislative Session

Requires a recording officer not to record or accept a transfer or assignment of interest in a mortgage unless accompanied with a mortgage ownership assignment

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Archive: Last Bill Status - On Floor Calendar

  • Introduced
    • In Committee Assembly
    • In Committee Senate
    • On Floor Calendar Assembly
    • On Floor Calendar Senate
    • Passed Assembly
    • Passed Senate
  • Delivered to Governor
  • Signed By Governor

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Bill Amendments

co-Sponsors

2011-A626 - Details

Law Section:
Real Property Law
Laws Affected:
Add §291-i, RP L
Versions Introduced in Other Legislative Sessions:
2009-2010: A8684
2013-2014: A1082
2015-2016: A163
2017-2018: A1387
2019-2020: A5613

2011-A626 - Summary

Requires a recording officer not to record or accept a transfer or assignment of interest in a mortgage unless accompanied with a mortgage ownership assignment document.

2011-A626 - Bill Text download pdf 

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

                                   626

                       2011-2012 Regular Sessions

                          I N  A S S E M B L Y

                               (PREFILED)

                             January 5, 2011
                               ___________

Introduced  by  M.  of  A.  WEINSTEIN,  HOOPER,  TITUS  -- read once and
  referred to the Committee on Judiciary

AN ACT to amend the real property law, in relation to the recording of a
  transfer or assignment of a mortgage interest

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

  Section  1.   The real property law is amended by adding a new section
291-i to read as follows:
  S 291-I. RECORDING OF TRANSFERS AND ASSIGNMENTS OF MORTGAGES; MORTGAGE
OWNERSHIP ASSIGNMENT DOCUMENT. 1. A RECORDING OFFICER SHALL  NOT  RECORD
OR ACCEPT FOR RECORDING ANY MORTGAGE OR ASSIGNMENT OF MORTGAGE MADE TO A
NON-NATURAL  PERSON AFFECTING LAND IN THIS STATE UNLESS ACCOMPANIED BY A
MORTGAGE OWNERSHIP ASSIGNMENT DOCUMENT IN  A  FORM  PRESCRIBED  BY  THIS
SECTION  AND THE FEE PRESCRIBED PURSUANT TO SECTION EIGHT THOUSAND TWEN-
TY-ONE OF THE CIVIL PRACTICE LAW AND RULES. SUCH FORM SHALL BE  RECORDED
NO  LATER THAN NINETY DAYS AFTER THE DATE OF THE ACKNOWLEDGMENT OR PROOF
OF SUCH INSTRUMENT.
  2. THE FORM OF THE MORTGAGE OWNERSHIP ASSIGNMENT DOCUMENT SHALL BE  AS
FOLLOWS:

                 MORTGAGE OWNERSHIP ASSIGNMENT DOCUMENT

NAME OF MORTGAGEE OR ASSIGNEE:

________________________________________________________________________

ADDRESS:

________________________________________________________________________

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD03130-01-1

co-Sponsors

2011-A626A - Details

Law Section:
Real Property Law
Laws Affected:
Add §291-i, RP L
Versions Introduced in Other Legislative Sessions:
2009-2010: A8684
2013-2014: A1082
2015-2016: A163
2017-2018: A1387
2019-2020: A5613

2011-A626A - Summary

Requires a recording officer not to record or accept a transfer or assignment of interest in a mortgage unless accompanied with a mortgage ownership assignment document.

2011-A626A - Bill Text download pdf 

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

                                 626--A
                                                         Cal. No. 35

                       2011-2012 Regular Sessions

                          I N  A S S E M B L Y

                               (PREFILED)

                             January 5, 2011
                               ___________

Introduced  by M. of A. WEINSTEIN, HOOPER, TITUS, CLARK -- read once and
  referred to the Committee on Judiciary -- advanced to a third reading,
  amended and ordered reprinted, retaining its place  on  the  order  of
  third reading

AN ACT to amend the real property law, in relation to the recording of a
  transfer or assignment of a mortgage interest

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

  Section 1.  The real property law is amended by adding a  new  section
291-j to read as follows:
  S 291-J. RECORDING OF TRANSFERS AND ASSIGNMENTS OF MORTGAGES; MORTGAGE
OWNERSHIP  ASSIGNMENT  DOCUMENT. 1. A RECORDING OFFICER SHALL NOT RECORD
OR ACCEPT FOR RECORDING ANY MORTGAGE OR ASSIGNMENT OF MORTGAGE MADE TO A
NON-NATURAL PERSON AFFECTING LAND IN THIS STATE UNLESS ACCOMPANIED BY  A
MORTGAGE  OWNERSHIP  ASSIGNMENT  DOCUMENT  IN  A FORM PRESCRIBED BY THIS
SECTION AND THE FEE PRESCRIBED PURSUANT TO SECTION EIGHT THOUSAND  TWEN-
TY-ONE  OF THE CIVIL PRACTICE LAW AND RULES. SUCH FORM SHALL BE RECORDED
NO LATER THAN NINETY DAYS AFTER THE DATE OF THE ACKNOWLEDGMENT OR  PROOF
OF SUCH INSTRUMENT.
  2.  THE FORM OF THE MORTGAGE OWNERSHIP ASSIGNMENT DOCUMENT SHALL BE AS
FOLLOWS:

                 MORTGAGE OWNERSHIP ASSIGNMENT DOCUMENT

NAME OF MORTGAGEE OR ASSIGNEE:

________________________________________________________________________

ADDRESS:

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

co-Sponsors

2011-A626B (ACTIVE) - Details

Law Section:
Real Property Law
Laws Affected:
Add §291-i, RP L
Versions Introduced in Other Legislative Sessions:
2009-2010: A8684
2013-2014: A1082
2015-2016: A163
2017-2018: A1387
2019-2020: A5613

2011-A626B (ACTIVE) - Summary

Requires a recording officer not to record or accept a transfer or assignment of interest in a mortgage unless accompanied with a mortgage ownership assignment document.

2011-A626B (ACTIVE) - Bill Text download pdf 

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

                                 626--B
                                                         Cal. No. 35

                       2011-2012 Regular Sessions

                          I N  A S S E M B L Y

                               (PREFILED)

                             January 5, 2011
                               ___________

Introduced  by M. of A. WEINSTEIN, HOOPER, TITUS, CLARK -- read once and
  referred to the Committee on Judiciary -- advanced to a third reading,
  amended and ordered reprinted, retaining its place  on  the  order  of
  third  reading  --  advanced  to  a third reading, amended and ordered
  reprinted, retaining its place on the order of third reading

AN ACT to amend the real property law, in relation to the recording of a
  transfer or assignment of a mortgage interest

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

  Section  1.   The real property law is amended by adding a new section
291-j to read as follows:
  S 291-J. RECORDING OF TRANSFERS AND ASSIGNMENTS OF MORTGAGES; MORTGAGE
OWNERSHIP ASSIGNMENT DOCUMENT. 1. A RECORDING OFFICER SHALL  NOT  RECORD
OR ACCEPT FOR RECORDING ANY MORTGAGE OR ASSIGNMENT OF MORTGAGE MADE BY A
NON-NATURAL  PERSON AFFECTING LAND IN THIS STATE UNLESS ACCOMPANIED BY A
MORTGAGE OWNERSHIP ASSIGNMENT DOCUMENT IN  A  FORM  PRESCRIBED  BY  THIS
SECTION  AND THE FEE PRESCRIBED PURSUANT TO SECTION EIGHT THOUSAND TWEN-
TY-ONE OF THE CIVIL PRACTICE LAW AND RULES. SUCH FORM SHALL BE  RECORDED
NO  LATER THAN NINETY DAYS AFTER THE DATE OF THE ACKNOWLEDGMENT OR PROOF
OF SUCH INSTRUMENT.
  2. THE FORM OF THE MORTGAGE OWNERSHIP ASSIGNMENT DOCUMENT SHALL BE  AS
FOLLOWS:

                 MORTGAGE OWNERSHIP ASSIGNMENT DOCUMENT

NAME OF MORTGAGEE OR ASSIGNEE:

________________________________________________________________________

ADDRESS:

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets

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