§ 291-c. Recording memoranda of leases. In lieu of the recording of a
lease for a term exceeding three years, pursuant to section two hundred
ninety-one of this chapter, there may be recorded with like effect a
memorandum of such lease, executed by all persons who are parties to the
lease, and acknowledged or proved, and certified, in the manner to
entitle a conveyance to be recorded. A memorandum of lease thus entitled
to be recorded shall contain at least the following information with
respect to the lease: the name of the lessor and the name of the lessee
and the addresses, if any, set forth in the lease as addresses of such
parties; a reference to the lease, with its date of execution; a
description of the leased premises in the form contained in the lease;
the term of the lease, with the date of commencement and the date of
termination of such term, and if there is a right of extension or
renewal, the maximum period for which or date to which the lease may be
extended or the number of times or date to which it may be renewed, and
the date or dates on which such rights of extension or renewal are
exercisable.

Whenever a memorandum of lease is presented for recording, the lease
shall also be submitted to the recording officer for the purpose of
examination to determine whether or not such memorandum of lease is
subject to the tax on mortgages provided by article eleven of the tax
law.