|Assembly Actions - Lowercase
Senate Actions - UPPERCASE
|Jan 11, 2021||referred to judiciary|
senate Bill S1312
Current Bill Status - In Senate Committee Judiciary Committee
- In Committee
- On Floor Calendar
- Passed Senate
- Passed Assembly
- Delivered to Governor
- Signed/Vetoed by Governor
S1312 (ACTIVE) - Details
S1312 (ACTIVE) - Sponsor Memo
BILL NUMBER: S1312 SPONSOR: GAUGHRAN TITLE OF BILL: An act to amend the real property law, in relation to removing the word residential from notices of conveyance of real property PURPOSE OR GENERAL IDEA OF BILL: To require that notice be provided to the seller of real property when a conveyance transferring the property is recorded by the County Clerk. SUMMARY OF PROVISIONS: Section 1. Amends Section 291 of the real property law, by removing the word "residential" from provision of law that requires notice be provided to the seller of real property upon the filing of a conveyance impacting their property.
S1312 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 1312 2021-2022 Regular Sessions I N S E N A T E January 11, 2021 ___________ Introduced by Sen. GAUGHRAN -- 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 removing the word residential from notices of conveyance of real 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 641 of the laws of 2019, is amended to read as follows: § 291. Recording of conveyances. A conveyance of real property, within 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 situated, 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 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 there- from as provided in section two hundred ninety-four-a of this article, in good faith and for a valuable consideration, from the same vendor or assignor, his distributees or devisees, and whose conveyance, contract or assignment is first duly recorded, and is void as against the lien upon the same real property 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 forego- ing, 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 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted.
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