N.Y. Real Property Law § 406: Transfers of registered property

§ 406. Transfers of registered property. A registered owner of real

property, in order to transfer his whole estate or interest therein, or

any part or parcel thereof, or any undivided interest therein, shall

execute to the intended transferee a deed or instrument of conveyance in

any form authorized by law. Such deed or instrument of conveyance shall

have recited therein a statement or reference setting forth the source

of the title of the grantor or the circumstances under which the title

was acquired by him. Upon filing such deed or other instrument in the

registrar's office and surrendering to the registrar the duplicate

certificate of title, he shall then make out and register as herein

provided a new certificate and also an owner's duplicate certificate of

title certifying the title to the estate or interest in the property

conveyed to the transferee and shall enter upon the original and

duplicate certificate the date of the transfer, the name of the

transferee and the number of the new certificate, and shall stamp across

the original and surrendered duplicate certificates the word

"cancelled." Title to such property shall not pass by such transfer

until the transfer is registered as prescribed by this section.