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 -


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

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Actions

view actions (8)
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

S667 - Details

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

S667 - 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.

S667 - Sponsor Memo

S667 - Bill Text download pdf

                    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

S667A - Details

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

S667A - 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.

S667A - Sponsor Memo

S667A - Bill 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

S667B (ACTIVE) - Details

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

S667B (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.

S667B (ACTIVE) - Sponsor Memo

S667B (ACTIVE) - Bill 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

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