Do you support this bill?

Senate Bill S5898

2011-2012 Legislative Session

Requires signatures of both parties to record a modification, extension or renewal of an oil, gas or mineral land lease

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Senate Committee Judiciary Committee

Please enter your contact information

Home address is used to determine the senate district in which you reside. Your support or opposition to this bill is then shared immediately with the senator who represents you.

Optional services from the NY State Senate:

Create an account. An account allows you to officially support or oppose key legislation, sign petitions with a single click, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.

Include a custom message for your Senator? (Optional)

Enter a message to your senator. Many New Yorkers use this to share the reasoning behind their support or opposition to the bill. Others might share a personal anecdote about how the bill would affect them or people they care about.

Actions

2011-S5898 (ACTIVE) - Details

Current Committee:
Senate Judiciary
Law Section:
Real Property Law
Laws Affected:
Amd ยง291-cc, RP L

2011-S5898 (ACTIVE) - Summary

Requires signatures of both parties to record a modification, extension or renewal of an oil, gas or mineral land lease.

2011-S5898 (ACTIVE) - Sponsor Memo

2011-S5898 (ACTIVE) - Bill Text download pdf 

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

                                  5898

                       2011-2012 Regular Sessions

                            I N  S E N A T E

                           September 30, 2011
                               ___________

Introduced  by  Sen.  SEWARD -- read twice and ordered printed, and when
  printed to be committed to the Committee on Rules

AN ACT to amend the real property law, in relation to  requiring  signa-
  tures  of  both parties to a lease to record a modification, extension
  or renewal of an oil, gas or mineral land lease

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

  Section  1. Section 291-cc of the real property law, as added by chap-
ter 472 of the laws of 1962, is amended to read as follows:
  S 291-cc. [1.] Recording modifications of leases.  1. Where a lease or
memorandum of such lease has  been  recorded,  an  unrecorded  agreement
modifying  such  lease  or  memorandum  is  void as against a subsequent
purchaser in good faith  and  for  a  valuable  consideration,  and  the
possession of the tenant shall not be deemed notice of the modification,
unless the agreement of modification or a memorandum thereof is recorded
prior  to  the  recording  of  the  instrument  by  which the subsequent
purchaser acquires his estate or interest.
  1-A. IN THE CASE OF RECORDING A MODIFICATION, EXTENSION OR RENEWAL  OF
AN OIL, GAS OR MINERAL LAND LEASE OR MEMORANDUM OF AN AGREEMENT TO MODI-
FY,  EXTEND  OR  RENEW  SUCH  LEASE,  SUCH AGREEMENT OR MEMORANDUM OF AN
AGREEMENT MODIFYING, EXTENDING OR RENEWING SUCH  LEASE,  SHALL  BE  DULY
ACKNOWLEDGED BY BOTH PARTIES TO SUCH LEASE.
  2.  A  memorandum  of  an agreement modifying a lease shall contain at
least the following information with respect to the agreement: the names
of the parties and the addresses, if any, set forth in the agreement;  a
reference  to  the  agreement  with  its  date  of  execution;  a  brief
description of the leased premises in form sufficient  to  identify  the
same; any changes made by the agreement in the term of the lease and the
date of the termination of the lease as modified, and any changes in the
provisions of the lease as to the rights of extension or renewal.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD11772-02-1

Comments

Open Legislation is a forum for New York State legislation. All comments are subject to review and community moderation is encouraged.

Comments deemed off-topic, commercial, campaign-related, self-promotional; or that contain profanity, hate or toxic speech; or that link to sites outside of the nysenate.gov domain are not permitted, and will not be published. Attempts to intimidate and silence contributors or deliberately deceive the public, including excessive or extraneous posting/posts, or coordinated activity, are prohibited and may result in the temporary or permanent banning of the user. Comment moderation is generally performed Monday through Friday. By contributing or voting you agree to the Terms of Participation and verify you are over 13.

Create an account. An account allows you to sign petitions with a single click, officially support or oppose key legislation, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.