N.Y. Real Property Law § 291-cc: Recording modifications of leases

§ 291-cc. 1. Recording modifications of leases. Where a lease or

memorandum of such lease has been recorded, an unrecorded agreement

modifying such lease or memorandum is void as against a subsequent

purchaser in good faith and for a valuable consideration, and the

possession of the tenant shall not be deemed notice of the modification,

unless the agreement of modification or a memorandum thereof is recorded

prior to the recording of the instrument by which the subsequent

purchaser acquires his estate or interest.

2. A memorandum of an agreement modifying a lease shall contain at

least the following information with respect to the agreement: the names

of the parties and the addresses, if any, set forth in the agreement; a

reference to the agreement with its date of execution; a brief

description of the leased premises in form sufficient to identify the

same; any changes made by the agreement in the term of the lease and the

date of the termination of the lease as modified, and any changes in the

provisions of the lease as to the rights of extension or renewal.

3. For the purpose of this section the word "purchaser" includes a

person who purchases or acquires by exchange or contracts to purchase or

acquire by exchange the leased premises or the real property of which

the leased premises are part or any estate or interest therein, or

acquires by assignment the rent to accrue from tenancies or subtenancies

thereof in existence at the time of the assignment.