Assembly Bill A844

2013-2014 Legislative Session

Requires oil, gas or mineral land lease to be recorded within thirty days of execution

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Assembly Committee


  • Introduced
    • In Committee Assembly
    • In Committee Senate
    • On Floor Calendar Assembly
    • On Floor Calendar Senate
    • Passed Assembly
    • Passed Senate
  • Delivered to Governor
  • Signed By Governor

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2013-A844 (ACTIVE) - Details

Current Committee:
Assembly Real Property Taxation
Law Section:
Real Property Law
Laws Affected:
Amd §291, RP L
Versions Introduced in Other Legislative Sessions:
2011-2012: A8485
2015-2016: A5383
2017-2018: A2498

2013-A844 (ACTIVE) - Summary

Requires oil, gas or mineral land lease to be recorded within thirty days of execution.

2013-A844 (ACTIVE) - Bill Text download pdf

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

                                   844

                       2013-2014 Regular Sessions

                          I N  A S S E M B L Y

                               (PREFILED)

                             January 9, 2013
                               ___________

Introduced  by M. of A. LIFTON, JAFFEE, ROSENTHAL, ENGLEBRIGHT, ABINANTI
  -- Multi-Sponsored by -- M. of A. DINOWITZ, GLICK,  GOTTFRIED,  JACOBS
  -- read once and referred to the Committee on Real Property Taxation

AN ACT to amend the real property law, in relation to requiring oil, gas
  or mineral land leases to be recorded within thirty days of execution

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

  Section 1. Section 291 of the real property law, as amended by chapter
447 of the laws of 1984, is amended to read as follows:
  S 291.  Recording of conveyances.  1. A conveyance of  real  property,
within the state, on being duly acknowledged by the person executing the
same,  or proved as required by this chapter, and such acknowledgment or
proof duly certified when required by this chapter, may be  recorded  in
the  office of the clerk of the county where such real property is situ-
ated, and such county clerk shall, upon the request  of  any  party,  on
tender  of the lawful fees therefor, record the same in his said office.
Every such conveyance not so recorded is void as against any person  who
subsequently  purchases or acquires by exchange or contracts to purchase
or acquire by exchange, the same real property or any  portion  thereof,
or  acquires  by  assignment the rent to accrue therefrom as provided in
section two hundred ninety-four-a of [the real property law] THIS  ARTI-
CLE,  in  good  faith  and  for  a valuable consideration, from the same
vendor or assignor, his distributees or devisees, and whose  conveyance,
contract  or  assignment  is first duly recorded, and is void as against
the lien upon the same real property or any portion thereof arising from
payments made upon the execution of  or  pursuant  to  the  terms  of  a
contract  with  the  same  vendor, his distributees or devisees, if such
contract is made in good faith and is first  duly  recorded.    Notwith-
standing the foregoing, any increase in the principal balance of a mort-
gage  lien  by  virtue  of  the  addition  thereto of unpaid interest in

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

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