Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jan 04, 2012 |
referred to judiciary |
Mar 14, 2011 |
referred to judiciary |
Senate Bill S4010
2011-2012 Legislative Session
Sponsored By
(R, C, IP) Senate District
Archive: Last Bill Status - In Senate Committee Judiciary 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
2011-S4010 (ACTIVE) - Details
- Current Committee:
- Senate Judiciary
- Law Section:
- Real Property Law
- Laws Affected:
- Amd ยง423, RP L
- Versions Introduced in 2009-2010 Legislative Session:
-
S4418
2011-S4010 (ACTIVE) - Sponsor Memo
BILL NUMBER:S4010 TITLE OF BILL: An act to amend the real property law, in relation to requiring registrars of title to real property to provide written notice to the assessor of the local assessing unit upon the death of the registered owner of real property PURPOSE: To require the registrar of title to real property to provide notice of the change of ownership of property upon the death of the registered owner who held a life estate in such property. SUMMARY OF PROVISIONS: Section one of the bill amends section 423 of the Real Property Law to require that the remainderman of a life estate provide notice to the title registrar of the death of the life estate holder in the form of a petition requesting transfer of title into the name of the remainderman. It also requires the registrar to notify the assessor of the local assessing unit within 10 business days of the change in ownership. EXISTING LAW: Under current law, there is no requirement that the remainderman of a life estate notify the registrar of title of a change in ownership.
2011-S4010 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 4010 2011-2012 Regular Sessions I N S E N A T E March 14, 2011 ___________ Introduced by Sen. JOHNSON -- read twice and ordered printed, and when printed to be committed to the Committee on Judiciary AN ACT to amend the real property law, in relation to requiring regist- rars of title to real property to provide written notice to the asses- sor of the local assessing unit upon the death of the registered owner of real property THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Section 423 of the real property law, as amended by chapter 780 of the laws of 1951, the opening paragraph as added by chapter 640 of the laws of 1991, the second undesignated paragraph as amended by chapter 115 of the laws of 1981, is amended to read as follows: S 423. Death of owner of registered property; transfer of property. Upon the death of an owner of registered real property, it shall be incumbent upon the surviving spouse or the joint tenant with right of survivorship to present to the registrar a petition on the annexed form, for the transfer of the title into the name of the survivor. The regist- rar shall upon payment of the required fees, memorialize said petition showing the change of ownership, delete the name of the deceased, and recertify title to the new owner on the existing certificate of title. UPON THE DEATH OF AN OWNER OF REGISTERED REAL PROPERTY, WHO HELD A LIFE ESTATE IN SUCH PROPERTY, IT SHALL BE INCUMBENT UPON THE REMAINDERMAN TO PRESENT TO THE REGISTRAR A PETITION, FOR THE TRANSFER OF THE TITLE INTO THE NAME OF THE REMAINDERMAN. THE REGISTRAR SHALL UPON PAYMENT OF THE REQUIRED FEES, MEMORIALIZE SAID PETITION SHOWING THE CHANGE OF OWNER- SHIP, DELETE THE NAME OF THE DECEASED, AND RECERTIFY TITLE TO THE NEW OWNER ON THE EXISTING CERTIFICATE OF TITLE. Upon the death of an owner of registered real property, it shall be incumbent upon the executor or administrator of the estate of the deceased, to present to the registrar a petition on the annexed form, for the transfer of title into the name of the executor or administrator, or upon filing of a deed executed by EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD07217-01-1
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