N.Y. Real Property Law § 427: Compensation from assurance fund

§ 427. Compensation from assurance fund. Any person who, without

negligence on his part, sustains loss or damage or is deprived of real

property, or of any estate, right or interest therein because of the

registration of another person as owner of such property, or of any

estate, right, or interest therein, through fraud, or in consequence of

any error, omission, mistake or misdescription in any certificate of

title or in any entry of or memorial in the title book, shall have a

cause of action against the county treasurer (in New York city the

commissioner of finance) to recover compensation for such loss or

damage.