N.Y. Public Housing Law § 128: Filing of instruments assigning or pledging awards

§ 128. Filing of instruments assigning or pledging awards. In the

case of the pledge, sale, transfer or assignment of an award by the

person entitled to receive the same by virtue of the final decree of the

court in a condemnation proceeding, or by other order of the court, the

instrument evidencing such pledge, sale, transfer or assignment,

acknowledged or proved as instruments are required to be acknowledged or

proved for the recording of instruments affecting real property, shall

be filed in the office of the secretary of the authority, who shall

endorse on such instrument its number and the hour, day, month and year

of its receipt. If such final decree or other order was obtained by the

municipality on behalf of or for the benefit of the authority, a

duplicate original of such instrument must also be filed in accordance

with the provisions of any general, special or local law applicable to

awards payable by such municipality. If an assignment of an award shall

be contained in an instrument recorded in the office in which

instruments affecting real property are by law required to be recorded,

a certified copy thereof may be filed in the office of the secretary of

the authority in place of the original. An alphabetical index shall be

kept under the name of the pledgor or assignor and of the pledgee or

assignee, stating the title of the proceeding, the time of the filing of

the instrument, the file number thereof, and what part of the award is

assigned thereby. A memorandum of the file number of the instrument

shall be made by the secretary of the authority on the duplicate decree

of a court, opposite the place where the amount of the award so assigned

is set forth. Every such instrument not so filed shall be void as

against any subsequent pledgee or assignee in good faith and for a

valuable consideration from the same pledgor or assignor, his heirs,

administrators or assigns, of the same award or any portion thereof, the

assignment of which is first duly filed in the office of the secretary

of the authority. Payment to the assignee or pledgee shown to be

entitled to the award by such record in the office of the secretary of

the authority shall protect the authority from liability to any other

person or persons.