Bulletin: NY000636

Recently, Governor Cuomo signed into law an amendment to Real Property Law §291.  The amendment is designed to give notice to homeowners when a conveyance document is recorded against the homeowner's real property.  This amendment only affects residential real property.  The amendment will require the County Clerk, upon a recording of conveyance, to mail a written notice of such conveyance to the owner of record. The law allows the County Clerk to charge a reasonable fee to cover the costs of providing such notice. The NY State Association of County Clerks has advised its members to establish a new $10 fee in all counties to cover the cost of mailing the notice on residential conveyance deeds (and possibly others, like mortgages or leases) submitted on or after March 11, 2020.

As we all are aware, each Clerk has its own set of rules and procedures, and we have already seen a different approach by several of the Clerks.  Accordingly, we suggest you alert your customers and remain in contact your local County Clerk about the amendment to determine what the fee is and what type of conveyance document will require the fee.

In the event you have any questions regarding the above please contact Stewart Title Legal Department at 212-922-0050 and speak with any Underwriting Counsel.

For on-line viewing of this and other bulletins, please log onto www.vuwriter.com.