Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jan 04, 2012 |
referred to real property taxation |
Jun 17, 2011 |
referred to real property taxation |
Assembly Bill A8485
2011-2012 Legislative Session
Sponsored By
LIFTON
Archive: Last Bill Status - In Assembly Committee
- Introduced
-
- In Committee Assembly
- In Committee Senate
-
- On Floor Calendar Assembly
- On Floor Calendar Senate
-
- Passed Assembly
- Passed Senate
- Delivered to Governor
- Signed By Governor
Actions
co-Sponsors
Peter Rivera
Ellen C. Jaffee
Linda Rosenthal
Steven Englebright
multi-Sponsors
Jeffrey Dinowitz
Deborah Glick
Richard Gottfried
Rhoda Jacobs
2011-A8485 (ACTIVE) - Details
2011-A8485 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 8485 2011-2012 Regular Sessions I N A S S E M B L Y June 17, 2011 ___________ Introduced by M. of A. LIFTON, P. RIVERA, JAFFEE, ROSENTHAL -- Multi- Sponsored by -- M. of A. DINOWITZ, GLICK, GOTTFRIED, NOLAN -- read once and referred to the Committee on Real Property Taxation AN ACT to amend the real property law, in relation to requiring oil, gas or mineral land leases to be recorded within thirty days of execution THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Section 291 of the real property law, as amended by chapter 447 of the laws of 1984, is amended to read as follows: S 291. Recording of conveyances. 1. A conveyance of real property, within the state, on being duly acknowledged by the person executing the same, or proved as required by this chapter, and such acknowledgment or proof duly certified when required by this chapter, may be recorded in the office of the clerk of the county where such real property is situ- ated, and such county clerk shall, upon the request of any party, on tender of the lawful fees therefor, record the same in his said office. Every such conveyance not so recorded is void as against any person who subsequently purchases or acquires by exchange or contracts to purchase or acquire by exchange, the same real property or any portion thereof, or acquires by assignment the rent to accrue therefrom as provided in section two hundred ninety-four-a of the real property law, in good faith and for a valuable consideration, from the same vendor or assig- nor, his distributees or devisees, and whose conveyance, contract or assignment is first duly recorded, and is void as against the lien upon the same real property or any portion thereof arising from payments made upon the execution of or pursuant to the terms of a contract with the same vendor, his distributees or devisees, if such contract is made in good faith and is first duly recorded. Notwithstanding the foregoing, any increase in the principal balance of a mortgage lien by virtue of the addition thereto of unpaid interest in accordance with the terms of the mortgage shall retain the priority of the original mortgage lien as EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD13058-01-1
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