N.Y. Real Property Law § 291: Recording of conveyances

§ 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

therefrom 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 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 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 provided that any such

mortgage instrument sets forth its terms of repayment. The clerk of the

county or city registrar where such conveyance 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.