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.
STATE OF NEW YORK
________________________________________________________________________
6685--B
Cal. No. 780
2015-2016 Regular Sessions
IN ASSEMBLY
March 30, 2015
___________
Introduced by M. of A. PERRY -- Multi-Sponsored by -- M. of A. BENEDET-
TO, COLTON, GALEF, HIKIND, ROSENTHAL, TITUS, WRIGHT -- read once and
referred to the Committee on Judiciary -- recommitted to the Committee
on Judiciary in accordance with Assembly Rule 3, sec. 2 -- committee
discharged, bill amended, ordered reprinted as amended and recommitted
to said committee -- reported from committee, advanced to a third
reading, amended and ordered reprinted, retaining its place on the
order of third reading
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:
1 Section 1. Section 291 of the real property law, as amended by chapter
2 447 of the laws of 1984, is amended to read as follows:
3 § 291. Recording of conveyances. A conveyance of real property, with-
4 in the state, on being duly acknowledged by the person executing the
5 same, or proved as required by this chapter, and such acknowledgment or
6 proof duly certified when required by this chapter, may be recorded in
7 the office of the clerk of the county where such real property is situ-
8 ated, and such county clerk or city registrar where applicable shall,
9 upon the request of any party, on tender of the lawful fees therefor,
10 record the same in [his] said office. Every such conveyance not so
11 recorded is void as against any person who subsequently purchases or
12 acquires by exchange or contracts to purchase or acquire by exchange,
13 the same real property or any portion thereof, or acquires by assignment
14 the rent to accrue therefrom as provided in section two hundred ninety-
15 four-a of [the real property law] this article, in good faith and for a
16 valuable consideration, from the same vendor or assignor, his distribu-
17 tees or devisees, and whose conveyance, contract or assignment is first
18 duly recorded, and is void as against the lien upon the same real prop-
19 erty or any portion thereof arising from payments made upon the
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD03554-05-6
A. 6685--B 2
1 execution of or pursuant to the terms of a contract with the same
2 vendor, his distributees or devisees, if such contract is made in good
3 faith and is first duly recorded. Notwithstanding the foregoing, any
4 increase in the principal balance of a mortgage lien by virtue of the
5 addition thereto of unpaid interest in accordance with the terms of the
6 mortgage shall retain the priority of the original mortgage lien as so
7 increased provided that any such mortgage instrument sets forth its
8 terms of repayment. The clerk of the county or city registrar where
9 such conveyance of residential real property is recorded and maintained
10 shall mail a written notice of such conveyance to the owner of record.
11 The notice shall have the heading printed in 20 point bold type and read
12 as follows:
13 "NOTICE OF SALE OR TRANSFER OF OWNERSHIP OF YOUR RESIDENTIAL PROPERTY.
14 To:______________________________
15 Name of owner of record
16 Our records show that you are listed as the current owner of record for
17 residential property:
18 Block # __________ Lot # ________
19 Located At: ___________________________
20 street address
21 in the county of __________________ New York
22 On ____________, documents were filed at this
23 date
24 office to change ownership and transfer title of your property.
25 To: ______________________________
26 name of new owner
27 If you have any questions regarding the validity of the documents, and
28 wish to dispute the recording of the transfer, you should obtain legal
29 counsel. If you believe you are a victim of a crime related to this
30 recording, contact your local law enforcement agency or, if in the City
31 of New York, the office of the sheriff."
32 The party seeking to record such conveyance shall bear the cost of such
33 written notice. The party seeking to record the conveyance shall
34 submit, contemporaneously with the filing of the document of conveyance,
35 a pre-stamped envelope bearing sufficient postage to mail a large envel-
36 ope by first class mail. Failure to mail such notice or the failure of
37 any party to receive the same, shall not affect the validity of the
38 conveyance of the property.
39 § 2. This act shall take effect on the ninetieth day after it shall
40 have become a law.
