§ 404-a. Withdrawal from registration in certain instances.
Notwithstanding the provisions of section four hundred four of this
chapter, a title to real property which has been duly registered as
provided by article twelve thereof may be withdrawn from such
registration upon application to the supreme court by the owner of the
fee title to the property. An application for such withdrawal from
registration may be filed with the registrar of the county in which the
title is then registered and shall be entitled "in the matter of the
application of (stating the name of the registered owner) for the
withdrawal from registration of the title to certain lands." Such
application, in such form as may be approved by the registrar, must be
made by the registered owner of the fee of the real property. It shall
set forth and recite in detail the name and postoffice address of the
registered owner, the number of the certificate of title last issued,
the date of the last registration of the title, a description of the
real property as stated in the certificate of title together with a
reference to the proper section, block and lot numbers if any, a
complete recital of all memorials entered on the certificate of title,
the names and addresses of all persons owning any incumbrance, charge,
trust or lien on the premises, a statement of all unpaid taxes,
assessments and water rates due and payable, a statement of the
circumstances existing which render continued registration of the title
impracticable and inexpedient, and a prayer for the withdrawal from
registration. The application shall be duly verified and executed in
duplicate. The registrar shall file one copy as a document in his office
and enter the same as a memorial on the certificate of title to which it
relates. The other copy shall be delivered to an official examiner of
title who shall forthwith proceed to examine the title since the date of
the first or initial registration thereof and investigate the facts set
forth in the application. Thereafter he shall make a report in writing
to the supreme court of his findings and a recommendation as to the
proper disposition of the application. The registrar shall set down a
date for hearing on the application in the "title part" of a special
term of the supreme court, which date shall be not less than twenty days
after the filing of the application; and he shall notify by certified
mail demanding a personally signed return receipt card all persons or
parties who appear by the report of the official examiner of title to
have any interest in or incumbrance, charge, trust, or lien upon the
said real property. At the hearing any of the parties in interest may
appear and consent or object to the granting of the prayer of the
application. Whether granted or denied, the supreme court shall enter an
order disposing of the application and after such order is filed with
the clerk of the county a transcript or certified copy of the same shall
be filed with the registrar and by him entered as a memorial on the
certificate of title. When the order of the supreme court grants a
withdrawal from registration of a title to real property as herein
provided, the registered owner thereof shall forthwith deliver to the
registrar and surrender his owner's duplicate certificate of title, or
if the same has been lost or destroyed a new owner's duplicate
certificate of title obtained as provided in section four hundred
fourteen of this chapter. The registrar shall then cause the owner's
duplicate certificate of title to be recorded in the office of the
recording officer of the county in which the real property is located,
and thereafter permanently filed in his own office. A certified copy of
the record shall be delivered to the registered owner as his future
evidence of title.

The recording of the owner's duplicate certificate of title shall be
notice of the recitals and matters therein contained, and shall also be
notice of the fact that the title to the real property therein described
is no longer registered nor subject to the provisions of article twelve
of this chapter. From the time of such recording and until any future or
further registration of the title thereof, said property shall be and
become as to all matters subsequent to the time of such recording
subject to all provisions of law relating to real property the title to
which has not at any time been registered.

The final order and judgment of registration by the court pursuant to
which the aforesaid title to real property was originally registered
shall continue to be binding and conclusive as a decree or judgment of
the supreme court in the same manner and to the same extent and be of
the same force and effect as if the said title had not been withdrawn
from registration in accordance with the provisions of this section.

The fee of the registrar for all services rendered by him and by the
official examiner of title pursuant to this section shall be the sum of
one hundred dollars payable at the time of filing of the application for
withdrawal from registration, and one-half of the said fee shall be
transferred by the registrar to the assurance fund provided for by
section four hundred and twenty-six of this chapter. In addition thereto
the applicant shall pay to the registrar and the official examiner of
title, their necessary expenses and disbursements incurred in connection
with the withdrawal of the title from registration.