S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   4623
 
                        2025-2026 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             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:
 
   Section 1. Section 291 of the real property law, as amended by chapter
 641 of the laws of 2019, is amended to read as follows:
   § 291. Recording of conveyances. 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 situated,
 and such county clerk or city registrar where applicable shall, upon the
 request of any party, on tender of the lawful fees therefor, record  the
 same  in  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 there-
 from  as  provided in section two hundred ninety-four-a of this article,
 in good faith and for a valuable consideration, from the same vendor  or
 assignor,  [his] SUCH VENDOR OR ASSIGNOR'S 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] SUCH VENDOR'S
 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 so increased
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD04538-01-5
              

 A. 4623                             2
 
 provided that any such mortgage  instrument  sets  forth  its  terms  of
 repayment.  The clerk of the county or city registrar where such convey-
 ance of residential real property is recorded and maintained shall  mail
 a  written  notice of such conveyance to the owner of record. The notice
 shall have the heading printed  in  20  point  bold  type  and  read  as
 follows:
 "NOTICE OF SALE OR TRANSFER OF OWNERSHIP OF YOUR RESIDENTIAL PROPERTY.
 To:______________________________
       Name of owner of record
 
 Our  records show that you are listed as the current owner of record for
 residential property:
 
 Block #__________  Lot #________
 
 Located At: ___________________________
                   street address
 
 in the county of __________________ New York
 On ____________, documents were filed at this
       date
 office to change ownership and transfer title of your property.
 
 To: ______________________________
           name of new owner
 
 If you have any questions regarding the validity of the  documents,  and
 wish  to  dispute the recording of the transfer, you should obtain legal
 counsel. If you believe you are a victim of  a  crime  related  to  this
 recording,  contact your local law enforcement agency or, if in the City
 of New York, the office of the sheriff."
 The party seeking to record such conveyance shall bear the cost of  such
 written notice. The clerk of the county or city registrar is entitled to
 charge a reasonable fee to cover the cost of mailing the envelope to the
 owner of record. Failure to mail such notice or the failure of any party
 to  receive the same, shall not affect the validity of the conveyance of
 the property.  CONVEYANCES BY THE STATE OF NEW YORK OR ANY OF ITS  POLI-
 TICAL  SUBDIVISIONS  IN  CONJUNCTION  WITH  A  FORECLOSURE OF A TAX LIEN
 PURSUANT TO A PROCEEDING IN REM UNDER TITLE THREE OF ARTICLE  ELEVEN  OF
 THE REAL PROPERTY TAX LAW SHALL NOT REQUIRE WRITTEN NOTICE.
   § 2. This act shall take effect immediately.