senate Bill S667B

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 - In Committee


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed/Vetoed by Governor

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Actions

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Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Apr 04, 2012 print number 667b
amend and recommit to rules
Mar 12, 2012 committee discharged and committed to rules
Feb 21, 2012 notice of committee consideration - requested
Jan 04, 2012 referred to judiciary
Dec 14, 2011 print number 667a
amend and recommit to judiciary
Jan 05, 2011 referred to judiciary

Bill Amendments

Original
A
B (Active)
Original
A
B (Active)

S667 - Bill Details

See Assembly Version of this Bill:
A626B
Current Committee:
Law Section:
Real Property Law
Laws Affected:
Add §291-j, RP L
Versions Introduced in 2009-2010 Legislative Session:
S7515A, A8684B

S667 - Bill Texts

view 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.

view sponsor memo
BILL NUMBER:S667

TITLE OF BILL:

An act
to amend the administrative code of the city of New York, in relation to
prohibiting the operation of horse drawn cabs in the city of New York;
and repealing certain provisions of such law relating thereto

PURPOSE OR GENERAL IDEA OF BILL:

The legislation will prohibit the operation of horse drawn cabs in the
city of New York.

SUMMARY OF PROVISIONS:

Section 1 of the bill amends subdivision (c), (g) and (i) of section
17-326 of the administrative code of the city of New York by
deleting the provisions which refer to rental horse business
involving horse drawn carriages.

Section 2 of the bill amends the administrative code of the city of
New York by adding a new section 17-326.1 which states that it shall
be unlawful to offer rides to the public on a vehicle drawn or pulled
by a carriage horse.

Section 3 of the bill amends subdivisions a and d of section 17-327 of
the administrative code of the city of New York, subdivision d as
amended by local law number 22 of the city of New York by removing
language which allows for the operation of horse drawn vehicles for
hire such as horse drawn cabs.

Section 4 of the bill amends section 17-329 of the administrative code
in relation to the disposition of licensed horses requiring the
notification of the disposition within 5 days and removes language
which made this applicable solely to sales within New York city. It
also adds a new subdivision to this section setting forth the
definition of sold or disposed in a humane manner.

Section 5 of the bill amends subdivisions g, h and l of section 17-330
of the administrative code of the city of New York, subdivisions g
and l as amended by local law number 10 of the city of New York for
the year 2010, and subdivision h as added by local law number 2 of
the city of New York for the year 1994, by removing language which
refers to the operation of horse drawn cabs or carriage horses.

Section 6 of the bill repeals subdivisions o and p of section 17-330
of the administrative code of the city of New York.

Section 7 of the bill amends paragraph 1 of subdivision a of section
17-331 of the administrative code of the city of New York by removing
language referring to the operation of carriage horses.

Sections 8 through 10 of the bill repeal subdivision a of section
17-334, sections 19-174, 19-175 and 20-371 of the administrative code
of the City of New York.

Sections 11 and 12 of the bill amends section 20-371 and subdivisions
1 and 3 of section 20-372 of the administrative code of the city of
New York, as amended by local law number 31 of the city of New York
for the year 1995, by removing language referring to the operation of
horse drawn cabs.

Section 13 of the bill repeals subdivisions 5, 6, 7 and 8 of section
20-372 of the administrative code of the city of New York and
renumbers remaining subdivisions.

Section 14 of the bill amends subdivisions a and b of section 20-373
of the administrative code of the city of New York by removing
language referring to the operation of horse drawn cabs.

Section 15 of the bill repeals subdivisions c and d of section 20-373
of the administrative code of the city of New York

Section 16 of the bill amends subdivisions a and b of section 20-374
of the administrative of the city of New York by removing language
referring to the operation of horse drawn cabs.

Section 17 of the bill repeals subdivisions c of section 20-374 of the
administrative code of the city of New York.

Section 18 of the bill amends section 20-375 of the administrative
code of the city of New York, as amended by local law number 2 of the
city of New York for the year 1994 by removing language referring to
the operation of horse drawn cabs.

Section 19 of the bill repeals sections 20-377 and 20-377.1 of the
administrative code of the city of New York.

Sections 20 and 21 of the bill amend sections 20-378 and 20-379 of the
administrative code of the city of New York by removing language
referring to the operation of horse drawn cabs.

Section 22 of the bill repeals sections 20-380, 20-381, 20-381.1,
20-381.2 and 20-382 of the administrative code of the city of New York.

Section 23 of the bill amends section 20-383 of the administrative
code of the city of New York, as amended by local law number 2 of the
city of New York for the year 1994, the section number, the section
heading and subdivision a as amended by local law number 41 of the

city of New York for the year 2005 by renumbering and removing
language referring to the operation of horse drawn cabs.

Section 24 provides for this act to take effect on the one hundred and
eightieth day after is shall have become a law.

JUSTIFICATION:

Prior to 1993, the Administrative Code permitted the operation of
horse drawn cabs solely in the confines of Central Park and the
immediate adjacent streets. Following the "sunsetting" of these laws,
the Administrative Code was amended to allow the operation of horse
drawn cabs in vast sections of the already congested midtown
Manhattan area. These new code sections contained numerous
subparagraphs setting up differing restrictions depending upon the
days of the week and the specific locations for operation.

As a result of these amendments in 1994, major safety hazards have
been created in an area of the city where there are already numerous
traffic safety problems given the abundance of pedestrians, cars,
taxis, buses, bikers and emergency vehicles. In addition, given the
complexity of the statute itself, enforcement has become inconsistent
at best.

Since opening up these midtown streets to the horse drawn cabs,
numerous accidents have occurred posing grave danger to the animals,
passenger's, motorists and pedestrians. In September 2009 a carriage
driver was seriously injured after a taxi on Fifth Avenue collided
with a horse carriage in the middle of the afternoon. The taxi
crashed into a wall and the horse and carriage careened around a
corner and ultimately stopped but only after the driver suffered
serious injuries and was taken away by ambulance and hospitalized.
Two years prior in September 2007 a 12 year old horse was spooked by
a loud noise while left unattended and she bolted away became
entangled in the carriage wheel as she crashed into a tree. The horse
went into shock and died at the scene. Prior to this at least 6 other
accidents involving horse carriages occurred following another horse
fatality in January 2006 where a horse pulling a carriage became
startled and galloped down 9th Avenue for several blocks and collided
with a vehicle. This resulted in the ultimate death of the horse and
serious injury to the driver of the carriage. Unfortunately, this has
become an all too familiar scenario in the streets of midtown
Manhattan and something must finally be done to prevent these
situations from occurring.

PRIOR LEGISLATIVE HISTORY:

2011-12, S.5013/A7748 (Rosenthal)

FISCAL IMPLICATIONS FOR STATE AND LOCAL GOVERNMENTS:

To be determined.

EFFECTIVE DATE:

This act shall take effect on the one hundred and eightieth day after
is shall have become a law.

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

                                   667

                       2011-2012 Regular Sessions

                            I N  S E N A T E

                               (PREFILED)

                             January 5, 2011
                               ___________

Introduced  by  Sen. PERALTA -- read twice and ordered printed, and when
  printed to be committed 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

S. 667                              2

PHONE NUMBER:

________________________________________________________________________

DATE THAT MORTGAGE OR ASSIGNMENT WAS ACKNOWLEDGED OR PROVED:

________________________________________________________________________

AUTHORIZED REPRESENTATIVE OF MORTGAGEE OR ASSIGNEE:

________________________________________________________________________

  3.  FAILURE  TO  RECORD A MORTGAGE OR ASSIGNMENT OF MORTGAGE MADE TO A
NON-NATURAL PERSON AFFECTING LAND IN THIS STATE BY THE DATE SPECIFIED IN
SUBDIVISION ONE OF THIS SECTION, SHALL SUBJECT THE MORTGAGEE OR ASSIGNEE
WHO FAILS TO COMPLY WITH THIS SECTION TO A CIVIL PENALTY OF TWO  HUNDRED
FIFTY  DOLLARS.    THE PENALTY SHALL BE ASSESSED BY, AND PAYABLE TO, THE
RECORDING OFFICER.   PENALTIES COLLECTED PURSUANT  TO  THIS  SUBDIVISION
SHALL BE USED TO SUPPORT RECORDING OFFICER OPERATIONS.
  S  2.  This  act shall take effect on the ninetieth day after it shall
have become a law and shall apply to all  mortgages  or  assignments  of
mortgages executed on or after such date.

S667A - Bill Details

See Assembly Version of this Bill:
A626B
Current Committee:
Law Section:
Real Property Law
Laws Affected:
Add §291-j, RP L
Versions Introduced in 2009-2010 Legislative Session:
S7515A, A8684B

S667A - Bill Texts

view 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.

view sponsor memo
BILL NUMBER:S667A

TITLE OF BILL:
An act
to amend the real property law, in
relation to the recording of a transfer or assignment of a mortgage
interest

PURPOSE OF BILL:
To require parties to record an ownership transfer document with the
County Clerk or City Register when there is an assignment or transfer
of the ownership of the mortgage note which convey the right to
receive mortgage payments.

SUMMARY OF PROVISIONS OF BILL:
This bill amends the Real Property Law by adding a new section 291-j.
This bill requires any recording of a mortgage or assignment of a
mortgage made to a non-natural person affecting land in the state to
be accompanied by a mortgage ownership transfer document. Further,
this bill contains the "mortgage ownership transfer document" and
creates a civil penalty of $250 for failure to record a mortgage or
assignment.

JUSTIFICATION:
The recording statutes have been eclipsed by the passage of time and
no longer contain a complete public record of the ownership of real
property. The changing business practices of the mortgage industry
have led to the free trading of the legal instruments which represent
the right to collect the stream of mortgage payments from real
property borrowers. Private record keeping entities keep a real time
record of such transactions to facilitate real time trading. However,
the recording statutes have been interpreted by the courts as not
requiring parties to record ownership interests. Thus, borrowers can
no longer ascertain the identity of the owner(s) of their promissory
notes through simple access to the public record. This prevents ready
communication between the homeowner and the owner of their legal
instruments. In this time of turmoil in housing and mortgage lending,
this inability to contact the actual owner of their mortgage note
leaves a distressed borrower unable to contact their note owner. This
situation requires an update to the recording statutes SO they can
once again perform their purpose of recording the ownership interests
of real property.

In order for these amendments to be meaningful, each new owner of the
legal instruments will be required to record their name - whether
business or personal, the address and current phone number on the
transferor assignment form. Any agent of such new owner who
physically records such interest must record the assignment or
transfer in the name of the actual owner.

LEGISLATIVE HISTORY:
2009 - Referred to Judiciary

FISCAL IMPLICATIONS FOR STATE AND LOCAL GOVERNMENTS:
Undetermined.


EFFECTIVE DATE:
Ninety days after becoming law.

view full text
download pdf
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                 667--A

                       2011-2012 Regular Sessions

                            I N  S E N A T E

                               (PREFILED)

                             January 5, 2011
                               ___________

Introduced  by  Sen. PERALTA -- read twice and ordered printed, and when
  printed to be committed 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 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.
                                                           LBD03130-02-1

S. 667--A                           2

________________________________________________________________________

PHONE NUMBER:

________________________________________________________________________

DATE THAT MORTGAGE OR ASSIGNMENT WAS ACKNOWLEDGED OR PROVED:

________________________________________________________________________

AUTHORIZED REPRESENTATIVE OF MORTGAGEE OR ASSIGNEE:

________________________________________________________________________

  3.  FAILURE  TO  RECORD A MORTGAGE OR ASSIGNMENT OF MORTGAGE MADE TO A
NON-NATURAL PERSON AFFECTING LAND IN THIS STATE BY THE DATE SPECIFIED IN
SUBDIVISION ONE OF THIS SECTION, SHALL SUBJECT THE MORTGAGEE OR ASSIGNEE
WHO FAILS TO COMPLY WITH THIS SECTION TO A CIVIL PENALTY OF TWO  HUNDRED
FIFTY  DOLLARS.    THE PENALTY SHALL BE ASSESSED BY, AND PAYABLE TO, THE
RECORDING OFFICER.   PENALTIES COLLECTED PURSUANT  TO  THIS  SUBDIVISION
SHALL BE USED TO SUPPORT RECORDING OFFICER OPERATIONS.
  S  2.  This  act shall take effect on the ninetieth day after it shall
have become a law and shall apply to all  mortgages  or  assignments  of
mortgages executed on or after such date.

S667B (ACTIVE) - Bill Details

See Assembly Version of this Bill:
A626B
Current Committee:
Law Section:
Real Property Law
Laws Affected:
Add §291-j, RP L
Versions Introduced in 2009-2010 Legislative Session:
S7515A, A8684B

S667B (ACTIVE) - Bill Texts

view 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.

view sponsor memo
BILL NUMBER:S667B

TITLE OF BILL:
An act
to amend the real property law, in
relation to the recording of a transfer or assignment of a mortgage
interest

PURPOSE OF BILL:
To require parties to record an ownership transfer document with the
County Clerk or City Register when there is an assignment or transfer
of the ownership of the mortgage note which convey the right to
receive mortgage payments.

SUMMARY OF PROVISIONS OF BILL:
This bill amends the Real Property Law by adding a new section 291-j.
This bill requires any recording of a mortgage or assignment of a
mortgage made to a non-natural person affecting land in the state to
be accompanied by a mortgage ownership transfer document. Further,
this bill contains the "mortgage ownership transfer document" and
creates a civil penalty of $250 for failure to record a mortgage or
assignment.

JUSTIFICATION:
The recording statutes have been eclipsed by the passage of time and no
longer contain a complete public record of the ownership of real
property. The changing business practices of the mortgage industry
have led to the free trading of the legal instruments which represent
the right to collect the stream of mortgage payments from real
property borrowers. Private record keeping entities keep a real time
record of such transactions to facilitate real time trading. However,
the recording statutes have been interpreted by the courts as not
requiring parties to record ownership interests. Thus, borrowers can
no longer ascertain the identity of the owner(s) of their promissory
notes through simple access to the public record. This prevents ready
communication between the homeowner and the owner of their legal
instruments. In this time of turmoil in housing and mortgage lending,
this inability to contact the actual owner of their mortgage note
leaves a distressed borrower unable to contact their note owner. This
situation requires an update to the recording statutes so they can
once again perform their purpose of recording the ownership interests
of real property.

In order for these amendments to be meaningful, each new owner of the
legal instruments will be required to record their name - whether
business or personal, the address and current phone number on the
transferor assignment form. Any agent of such new owner who
physically records such interest must record the assignment or
transfer in the name of the actual owner.

LEGISLATIVE HISTORY:

2009 - Referred to Judiciary

FISCAL IMPLICATIONS FOR STATE AND LOCAL GOVERNMENTS:
Undetermined.

EFFECTIVE DATE:
Ninety days after becoming law.

view full text
download pdf
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                 667--B

                       2011-2012 Regular Sessions

                            I N  S E N A T E

                               (PREFILED)

                             January 5, 2011
                               ___________

Introduced  by  Sen. PERALTA -- read twice and ordered printed, and when
  printed to be committed to the Committee  on  Judiciary  --  committee
  discharged, bill amended, ordered reprinted as amended and recommitted
  to  said  committee  --  recommitted  to the Committee on Judiciary in
  accordance with Senate Rule 6, sec. 8 -- committee discharged and said
  bill committed to the Committee on Rules -- committee discharged, bill
  amended, ordered reprinted as amended and recommitted to said  commit-
  tee

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:

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD03130-05-2

S. 667--B                           2

________________________________________________________________________

ADDRESS:

________________________________________________________________________

PHONE NUMBER:

________________________________________________________________________

DATE THAT MORTGAGE OR ASSIGNMENT WAS ACKNOWLEDGED OR PROVED:

________________________________________________________________________

AUTHORIZED REPRESENTATIVE OF MORTGAGEE OR ASSIGNEE:

________________________________________________________________________

  3.  FAILURE  TO  RECORD A MORTGAGE OR ASSIGNMENT OF MORTGAGE MADE BY A
NON-NATURAL PERSON AFFECTING LAND IN THIS STATE BY THE DATE SPECIFIED IN
SUBDIVISION ONE OF THIS SECTION, SHALL SUBJECT THE MORTGAGEE OR ASSIGNEE
WHO FAILS TO COMPLY WITH THIS SECTION TO A CIVIL PENALTY OF TWO  HUNDRED
FIFTY  DOLLARS.    THE PENALTY SHALL BE ASSESSED BY, AND PAYABLE TO, THE
RECORDING OFFICER.   PENALTIES COLLECTED PURSUANT  TO  THIS  SUBDIVISION
SHALL BE USED TO SUPPORT RECORDING OFFICER OPERATIONS.
  S  2.  This  act shall take effect on the ninetieth day after it shall
have become a law and shall apply to all  mortgages  or  assignments  of
mortgages executed on or after such date.

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