senate Bill S7955A

2015-2016 Legislative Session

Provides for a notice of conveyance of real property to be sent to the owners of record of residential real property

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Senate Committee Judiciary Committee


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

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Actions

view actions (3)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jun 06, 2016 print number 7955a
Jun 06, 2016 amend and recommit to judiciary
May 31, 2016 referred to judiciary

S7955 - Details

See Assembly Version of this Bill:
A6685
Current Committee:
Senate Judiciary
Law Section:
Real Property Law
Laws Affected:
Amd §291, RP L
Versions Introduced in Other Legislative Sessions:
2009-2010: A3518
2011-2012: A4748
2013-2014: A4813
2017-2018: S2966, A1785
2019-2020: A440

S7955 - 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.

S7955 - Sponsor Memo

S7955 - Bill Text download pdf

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

                                  7955

                            I N  S E N A T E

                              May 31, 2016
                               ___________

Introduced  by  Sen.  GOLDEN -- 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 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] THIS ARTICLE, in good faith and for  a
valuable  consideration, from the same vendor or assignor, his distribu-
tees or devisees, and whose conveyance, contract or assignment is  first
duly  recorded, and is void as against the lien upon the same real prop-
erty 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 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.  THE CLERK OF THE COUNTY  OR  CITY  REGISTRAR  WHERE
SUCH  CONVEYANCE OF RESIDENTIAL REAL PROPERTY IS RECORDED AND MAINTAINED

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

S7955A (ACTIVE) - Details

See Assembly Version of this Bill:
A6685
Current Committee:
Senate Judiciary
Law Section:
Real Property Law
Laws Affected:
Amd §291, RP L
Versions Introduced in Other Legislative Sessions:
2009-2010: A3518
2011-2012: A4748
2013-2014: A4813
2017-2018: S2966, A1785
2019-2020: A440

S7955A (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.

S7955A (ACTIVE) - Sponsor Memo

S7955A (ACTIVE) - Bill Text download pdf

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

                                 7955--A

                            I N  S E N A T E

                              May 31, 2016
                               ___________

Introduced  by  Sen.  GOLDEN -- 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 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] THIS ARTICLE, in good faith and for a
valuable consideration, from the same vendor or assignor, his  distribu-
tees  or devisees, and whose conveyance, contract or assignment is first
duly recorded, and is void as against the lien upon the same real  prop-
erty  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  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

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

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