S T A T E   O F   N E W   Y O R K
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                                  5377

                       2015-2016 Regular Sessions

                          I N  A S S E M B L Y

                            February 20, 2015
                               ___________

Introduced by M. of A. LIFTON, ROSENTHAL, JAFFEE, ENGLEBRIGHT, ABINANTI,
  TITONE  --  Multi-Sponsored by -- M. of A. DINOWITZ, GLICK, GOTTFRIED,
  MAGEE -- read once and referred to the Committee on Judiciary

AN ACT to amend the general obligations law and the real  property  law,
  in  relation to requiring the signatures of all owners of leased prem-
  ises for every lease for oil, gas or mineral rights, and any modifica-
  tion, extension or renewal thereof

  THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section  1.  Subdivision 6 of section 5-333 of the general obligations
law, as added by chapter 386 of the laws of 2005, is amended and two new
subdivisions 3-a and 5-a are added to read as follows:
  3-A.  NOTWITHSTANDING ANY OTHER PROVISION OF LAW, RULE  OR  REGULATION
TO  THE  CONTRARY,  ANY OIL, GAS OR MINERAL LEASE CONCERNING OIL, GAS OR
MINERAL RIGHTS SHALL BE SIGNED BY ALL OWNERS OF THE LEASED  PREMISES  AS
OF  THE  DATE  THE  LEASE  IS SIGNED. ANY LEASE WHICH CONTAINS LESS THAN
EVERY SIGNATURE OF ALL OWNERS OF THE LEASED PERMITS SHALL  BE  VOID  AND
UNENFORCEABLE  IN  ITS  ENTIRETY  AS TO ANY SURFACE RIGHTS, AND VOID AND
UNENFORCEABLE AS TO ANY SUB-SURFACE INTEREST.
  5-A. NO MODIFICATIONS, INCLUDING EXTENSIONS AND RENEWALS, OF ANY LEASE
SHALL BE  EFFECTIVE  UNLESS  IT  CONTAINS  THE  NOTICE  OF  CANCELLATION
PROVISIONS SET FORTH IN SUBDIVISION FIVE OF THIS SECTION.
  6.  The  provisions  of  subdivisions one, two, three and four of this
section shall apply to leases entered into on or  after  January  first,
nineteen  hundred  eighty-five [and], the provisions of subdivision five
of this section shall apply to leases entered into on or  after  January
first,  two thousand six, AND THE PROVISIONS OF SUBDIVISIONS THREE-A AND
FIVE-A OF THIS SECTION SHALL APPLY TO LEASES ENTERED INTO  ON  OR  AFTER
JANUARY FIRST, TWO THOUSAND SEVENTEEN.
  S 2. Section 291-c of the real property law is amended by adding a new
closing paragraph to read as follows:

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD03957-01-5
              

A. 5377                             2

  FOR  ANY  OIL,  GAS  OR  MINERAL  LEASE CONCERNING OIL, GAS OR MINERAL
RIGHTS SIGNED ON OR AFTER JANUARY FIRST,  TWO  THOUSAND  SEVENTEEN,  ANY
RECORDING  OF  A MEMORANDUM OF LEASE, INCLUDING ANY MODIFICATION, EXTEN-
SION OR RENEWAL, SHALL BE SIGNED BY ALL OWNERS OF THE  LEASED  PREMISES.
ANY  MEMORANDA  NOT  SIGNED BY ALL OWNERS OF THE LEASED PREMISES IS VOID
AND UNENFORCEABLE.
  S 3. Section 291-cc of the real property law, as added by chapter  472
of the laws of 1962, is amended to read as follows:
  S  291-cc. [1.] Recording modifications of leases. 1. 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.
  4.  FOR  ANY  OIL, GAS OR MINERAL LEASE CONCERNING OIL, GAS OR MINERAL
RIGHTS SIGNED ON OR AFTER JANUARY FIRST,  TWO  THOUSAND  SEVENTEEN,  ANY
RECORDING  OF  A  MODIFICATION  OF  A  LEASE, INCLUDING ANY EXTENSION OR
RENEWAL, SHALL BE SIGNED BY ALL  OWNERS  OF  THE  LEASED  PREMISES.  ANY
MODIFICATIONS  NOT  SIGNED  BY ALL OWNERS OF THE LEASED PREMISES IS VOID
AND UNENFORCEABLE.
  S 4. This act shall take effect January 1, 2017.