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This entry was published on 2014-09-22
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Filing of instruments assigning or pledging awards
Public Housing (PBG) CHAPTER 44-A, ARTICLE 7
§ 128. Filing of instruments assigning or pledging awards. In the
case of the pledge, sale, transfer or assignment of an award by the
person entitled to receive the same by virtue of the final decree of the
court in a condemnation proceeding, or by other order of the court, the
instrument evidencing such pledge, sale, transfer or assignment,
acknowledged or proved as instruments are required to be acknowledged or
proved for the recording of instruments affecting real property, shall
be filed in the office of the secretary of the authority, who shall
endorse on such instrument its number and the hour, day, month and year
of its receipt. If such final decree or other order was obtained by the
municipality on behalf of or for the benefit of the authority, a
duplicate original of such instrument must also be filed in accordance
with the provisions of any general, special or local law applicable to
awards payable by such municipality. If an assignment of an award shall
be contained in an instrument recorded in the office in which
instruments affecting real property are by law required to be recorded,
a certified copy thereof may be filed in the office of the secretary of
the authority in place of the original. An alphabetical index shall be
kept under the name of the pledgor or assignor and of the pledgee or
assignee, stating the title of the proceeding, the time of the filing of
the instrument, the file number thereof, and what part of the award is
assigned thereby. A memorandum of the file number of the instrument
shall be made by the secretary of the authority on the duplicate decree
of a court, opposite the place where the amount of the award so assigned
is set forth. Every such instrument not so filed shall be void as
against any subsequent pledgee or assignee in good faith and for a
valuable consideration from the same pledgor or assignor, his heirs,
administrators or assigns, of the same award or any portion thereof, the
assignment of which is first duly filed in the office of the secretary
of the authority. Payment to the assignee or pledgee shown to be
entitled to the award by such record in the office of the secretary of
the authority shall protect the authority from liability to any other
person or persons.