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Senate Bill S7647

2025-2026 Legislative Session

Requires a statement of the full sales price of real property being conveyed and proof of such sales price to be submitted to the recording officer

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Current Bill Status - In Senate Committee Judiciary Committee

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2025-S7647 (ACTIVE) - Details

Current Committee:
Senate Judiciary
Law Section:
Real Property Law
Laws Affected:
Amd §333, RP L

2025-S7647 (ACTIVE) - Summary

Enacts the "deed theft: proof of sale price act" requiring a statement of the full sales price of real property being conveyed and proof of such sales price to be submitted to the recording officer in order for such officer to record or accept for recording the conveyance of real property.

2025-S7647 (ACTIVE) - Sponsor Memo

2025-S7647 (ACTIVE) - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   7647
 
                        2025-2026 Regular Sessions
 
                             I N  S E N A T E
 
                              April 25, 2025
                                ___________
 
 Introduced  by Sen. BRISPORT -- 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 requiring proof of
   full sales price
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:

   Section  1.  This  act  shall  be  known and may be cited as the "deed
 theft:  proof of sale price act".
   § 2. Subparagraph 4 of paragraph ii of subdivision 1-e of section  333
 of  the  real property law, as amended by section 1 of part B of chapter
 57 of the laws of 2004, is amended to read as follows:
   (4) a statement of the full sales price relating thereto AND PROOF  OF
 THE  FULL SALES PRICE. SUCH PROOF MAY INCLUDE A COPY OF A CANCELED CHECK
 FOR THE FULL SALES PRICE, DOCUMENTS PROVING THE SATISFACTION OR  ASSUMP-
 TION  OF A MORTGAGE, LIEN, OR OTHER OBLIGATIONS, AND AFFIDAVITS FROM THE
 SELLER DETAILING AN ITEMIZED LIST OF PROPERTY RECEIVED BY SELLER;
   § 3. Subparagraph 1 of paragraph v of subdivision 1-e of  section  333
 of  the  real property law, as amended by section 1 of part U of chapter
 59 of the laws of 2021, is amended to read as follows:
   (1) The provisions of this subdivision shall not operate to invalidate
 any conveyance of real property where one or more of  the  items  desig-
 nated as subparagraphs one through THREE AND FIVE THROUGH eight of para-
 graph  ii  of this subdivision, have not been reported or which has been
 erroneously reported, nor affect the record contrary to  the  provisions
 of  this subdivision, nor impair any title founded on such conveyance or
 record; PROVIDED, HOWEVER, THAT THE OMISSION OR THE ERRONEOUS  REPORTING
 OF  THE  FULL  SALES PRICE AND THE PROOF OF SUCH SALES PRICE PURSUANT TO
 SUBPARAGRAPH FOUR OF PARAGRAPH II OF THIS SUBDIVISION  SHALL  IMPAIR  OR
 INVALIDATE ANY TITLE FOUNDED ON SUCH CONVEYANCE OR RECORD.
   §  4.  This  act shall take effect on the ninetieth day after it shall
 have become a law.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD11807-01-5

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