N.Y. Real Property Law § 291-c: Recording memoranda of leases

§ 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.