New York A 7708: Prevents fraudulent deed transfers

Bill Text

Bill Search and Legislative Information | New York State Assembly 

• 

• 

• 

• 

• 

• 

• 

• 

 Skip to main content 

 New York State Assembly

 Speaker Carl E. Heastie

 --> 
 --> 

 --> 

• 
 Assembly Members 

• 
 Legislative Info 

• 
 Public Hearings 

• 
 Speaker's Press 

• 
 Assembly Reports 

• 
 Committees & More 

• Bill Search Home
• Laws
• Legislative Calendar
• Public Hearing Schedule
• Assembly Calendars
• Assembly Committee Agenda 

 Javascript must be enabled to properly view this page. 

 Bill No.: 

• Summary 
• Actions 
• Committee&nbspVotes 
• Floor&nbspVotes 
• Memo 
• Text 
• LFIN 
• Chamber&nbspVideo/Transcript 
A07708 Summary:

BILL NOA07708A

&nbsp

SAME ASSAME AS S03737-B

&nbsp

SPONSORLavine

&nbsp

COSPNSR

&nbsp

MLTSPNSR

&nbsp

Amd §333, RP L; amd §§6-n & 14, Bank L

&nbsp

Relates to preventing fraudulent deed transfers; protects home owners from being misled into transferring their home to mortgage servicers.

Go to top A07708 Actions:

BILL NOA07708A

&nbsp

04/08/2025referred to judiciary

01/07/2026referred to judiciary

03/17/2026amend and recommit to judiciary

03/17/2026print number 7708a

Go to topA07708 Committee&nbspVotes:

Go to topA07708 Floor&nbspVotes:

There are no Assembly votes for this bill in this legislative session.

Go to topA07708 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 7708--A

 2025-2026 Regular Sessions

 IN ASSEMBLY

 April 8, 2025
 ___________

 Introduced by M. of A. LAVINE -- read once and referred to the Committee
 on Judiciary -- recommitted to the Committee on Judiciary in accord-
 ance with Assembly Rule 3, sec. 2 -- committee discharged, bill
 amended, ordered reprinted as amended and recommitted to said commit-
 tee

 AN ACT to amend the real property law and the banking law, in relation
 to preventing fraudulent deed transfers

 The People of the State of New York, represented in Senate and Assem-
 bly, do enact as follows:

 1 Section 1. Section 333 of the real property law is amended by adding a
 2 new subdivision 4 to read as follows:
 3 4. (a) A recording officer shall not record or accept for recording
 4 any conveyance of real property affecting land in New York state unless
 5 such conveyance contains, or is accompanied by an addendum containing,
 6 explicit and bold language that reads, "YOU ARE HEREBY MADE AWARE THAT
 7 BY SIGNING THIS DEED YOU ARE TRANSFERRING OWNERSHIP OF YOUR LAND OR
 8 HOME", with a signature line under such language which shall contain a
 9 notarized signature of the transferor. Failure of a person or corpo-
 10 ration to use a deed without such warning language or if the transferor
 11 does not sign the acknowledgement to complete such deed transfer pursu-
 12 ant to this section shall be subject to civil penalties as follows:
 13 (i) two hundred fifty dollars for a first violation;
 14 (ii) five hundred dollars for a second violation; or
 15 (iii) one thousand dollars for a third or subsequent violation.
 16 (b) Each deed or addendum that fails to comply with this section shall
 17 constitute a separate violation. Civil penalties may be imposed by the
 18 secretary of state following notice and an opportunity to be heard, or
 19 may be recovered in a civil action brought by the attorney general.
 20 Nothing in this section shall limit existing remedies to void or set
 21 aside fraudulent conveyances under any other law.

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD07911-04-6

 A. 7708--A 2

 1 § 2. Section 6-n of the banking law is amended by adding a new subdi-
 2 vision 3 to read as follows:
 3 3. No deed transfer from a borrower to a mortgage servicer that is
 4 transferred as part of a modification of mortgage terms shall be consid-
 5 ered a valid deed transfer. The department shall have the authority to
 6 investigate any deed transfer that is in violation of this subdivision.
 7 § 3. Subdivision 1 of section 14 of the banking law is amended by
 8 adding a new paragraph (t) to read as follows:
 9 (t) To prescribe the methods and standards under which the department
 10 shall receive and investigate claims of fraudulent deed transfers,
 11 including, but not limited to deed transfers that are in violation of
 12 subdivision three of section six-n of this chapter.
 13 § 4. This act shall take effect immediately.

Go to top 

• 

 Sitemap 

 Request Information 

 Directions and Maps