Legislation
SECTION 297-A
Recording of certified copies of bankruptcy papers; constructive notice
Real Property (RPP) CHAPTER 50, ARTICLE 9
§ 297-a. Recording of certified copies of bankruptcy papers;
constructive notice. 1. A copy of a petition in bankruptcy with the
schedules omitted, of a decree of adjudication of bankruptcy and of an
order approving the bond of a trustee in bankruptcy, or any of them, in
each case certified in accordance with the laws of the United States
applicable at the time of certification, may be recorded in the office
of the recording officer of any county, irrespective of the location of
the United States district court having jurisdiction of the bankruptcy
proceeding or in which such petition was filed or order of adjudication
or approval of the trustee's bond was made.
2. (a) Each paper, together with the certification thereof, recorded
pursuant to this section shall, for the purposes of recording,
transcription, reproduction and indexing, be regarded as a deed by the
bankrupt or alleged bankrupt to the trustee in bankruptcy named therein
or, if no trustee be named, to the trustee appointed, or thereafter to
be appointed.
(b) In counties where, under certain circumstances and pursuant to
law, deeds or other instruments are recordable among miscellaneous
instruments, or indexed in the index of such instruments, each of the
papers shall be similarly recorded or indexed. In other counties or
cases, it shall be recorded or indexed as a deed.
(c) Where the paper so recorded does not reveal the name of the
trustee in bankruptcy, the recording officer shall substitute, for the
name of the grantee in the index or indices in his office where the name
of the grantee in a deed is required to be entered, the words "Trustee
in bankruptcy"; but any irregularity or failure of the recording officer
in compliance with this paragraph shall not invalidate the record
thereof.
(d) The recording of the paper and the certification thereof shall
have the same effect as constructive notice as if it were a conveyance
to a named grantee, duly acknowledged or proved and recorded.
(e) The petition, decree or order referred to in subdivision 1 of this
section may be one either heretofore or hereafter filed or made pursuant
to any law of the United States relating to bankruptcy.
constructive notice. 1. A copy of a petition in bankruptcy with the
schedules omitted, of a decree of adjudication of bankruptcy and of an
order approving the bond of a trustee in bankruptcy, or any of them, in
each case certified in accordance with the laws of the United States
applicable at the time of certification, may be recorded in the office
of the recording officer of any county, irrespective of the location of
the United States district court having jurisdiction of the bankruptcy
proceeding or in which such petition was filed or order of adjudication
or approval of the trustee's bond was made.
2. (a) Each paper, together with the certification thereof, recorded
pursuant to this section shall, for the purposes of recording,
transcription, reproduction and indexing, be regarded as a deed by the
bankrupt or alleged bankrupt to the trustee in bankruptcy named therein
or, if no trustee be named, to the trustee appointed, or thereafter to
be appointed.
(b) In counties where, under certain circumstances and pursuant to
law, deeds or other instruments are recordable among miscellaneous
instruments, or indexed in the index of such instruments, each of the
papers shall be similarly recorded or indexed. In other counties or
cases, it shall be recorded or indexed as a deed.
(c) Where the paper so recorded does not reveal the name of the
trustee in bankruptcy, the recording officer shall substitute, for the
name of the grantee in the index or indices in his office where the name
of the grantee in a deed is required to be entered, the words "Trustee
in bankruptcy"; but any irregularity or failure of the recording officer
in compliance with this paragraph shall not invalidate the record
thereof.
(d) The recording of the paper and the certification thereof shall
have the same effect as constructive notice as if it were a conveyance
to a named grantee, duly acknowledged or proved and recorded.
(e) The petition, decree or order referred to in subdivision 1 of this
section may be one either heretofore or hereafter filed or made pursuant
to any law of the United States relating to bankruptcy.