New York A 4623: Excludes certain real property conveyances from the written notice requirement

Bill Text

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A04623 Summary:

BILL NOA04623 

&nbsp

SAME ASSAME AS S01475

&nbsp

SPONSORSempolinski

&nbsp

COSPNSR

&nbsp

MLTSPNSR

&nbsp

Amd §291, RP L

&nbsp

Excludes real property conveyances from the written notice requirement when such property is being conveyed by the state of New York or any of its political subdivisions as part of a foreclosure proceeding.

Go to top A04623 Actions:

BILL NOA04623 

&nbsp

02/04/2025referred to judiciary

01/07/2026referred to judiciary

Go to topA04623 Committee&nbspVotes:

Go to topA04623 Floor&nbspVotes:

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

Go to topA04623 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 4623

 2025-2026 Regular Sessions

 IN ASSEMBLY

 February 4, 2025
 ___________

 Introduced by M. of A. SEMPOLINSKI -- read once and referred to the
 Committee on Judiciary

 AN ACT to amend the real property law, in relation to excluding certain
 real property conveyances from the written notice requirement

 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
 2 641 of the laws of 2019, is amended to read as follows:
 3 § 291. Recording of conveyances. A conveyance of real property, within
 4 the state, on being duly acknowledged by the person executing the same,
 5 or proved as required by this chapter, and such acknowledgment or proof
 6 duly certified when required by this chapter, may be recorded in the
 7 office of the clerk of the county where such real property is situated,
 8 and such county clerk or city registrar where applicable shall, upon the
 9 request of any party, on tender of the lawful fees therefor, record the
 10 same in said office. Every such conveyance not so recorded is void as
 11 against any person who subsequently purchases or acquires by exchange or
 12 contracts to purchase or acquire by exchange, the same real property or
 13 any portion thereof, or acquires by assignment the rent to accrue there-
 14 from as provided in section two hundred ninety-four-a of this article,
 15 in good faith and for a valuable consideration, from the same vendor or
 16 assignor, [his] such vendor or assignor's distributees or devisees, and
 17 whose conveyance, contract or assignment is first duly recorded, and is
 18 void as against the lien upon the same real property or any portion
 19 thereof arising from payments made upon the execution of or pursuant to
 20 the terms of a contract with the same vendor, [his] such vendor's
 21 distributees or devisees, if such contract is made in good faith and is
 22 first duly recorded. Notwithstanding the foregoing, any increase in the
 23 principal balance of a mortgage lien by virtue of the addition thereto
 24 of unpaid interest in accordance with the terms of the mortgage shall
 25 retain the priority of the original mortgage lien as so increased

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD04538-01-5

 A. 4623 2

 1 provided that any such mortgage instrument sets forth its terms of
 2 repayment. The clerk of the county or city registrar where such convey-
 3 ance of residential real property is recorded and maintained shall mail
 4 a written notice of such conveyance to the owner of record. The notice
 5 shall have the heading printed in 20 point bold type and read as
 6 follows:
 7 "NOTICE OF SALE OR TRANSFER OF OWNERSHIP OF YOUR RESIDENTIAL PROPERTY.
 8 To:______________________________
 9 Name of owner of record

 10 Our records show that you are listed as the current owner of record for
 11 residential property:

 12 Block #__________ Lot #________

 13 Located At: ___________________________
 14 street address

 15 in the county of __________________ New York
 16 On ____________, documents were filed at this
 17 date
 18 office to change ownership and transfer title of your property.

 19 To: ______________________________
 20 name of new owner

 21 If you have any questions regarding the validity of the documents, and
 22 wish to dispute the recording of the transfer, you should obtain legal
 23 counsel. If you believe you are a victim of a crime related to this
 24 recording, contact your local