Legal Media Analysts

Showing posts with label Title. Show all posts
Showing posts with label Title. Show all posts

Thursday, April 09, 2020

Empire State Development Issues Guidance on Real Estate Services

On March 9, 2020, Executive Order 202.6 mandated non-essential businesses to reduce their in-person workforce by 50% and later, by 100%. Today, the Empire State Development (ESD) issued guidance on Executive Order 202.6 to further determine which businesses are considered essential.

What does the ESD Guidance mean for real estate professionals?

Lawyers are permitted to continue to perform all work necessary, as long as it is performed remotely. Any in-person work must be only for supporting essential businesses or services, with the caveat that such work should still be conducted as remotely as possible.

Real estate services, including but not limited to, title searches, appraisals, permitting, inspections, recording, legal, financial and other services necessary to complete the transfer of real property shall be conducted remotely for ALL transactions.
  • In-person services may be conducted only to the extent legally necessary and in accordance with appropriate social distancing and cleaning/disinfecting protocols.
  • Brokerage and branch offices may be opened only to clients.

With ESD’s Guidance, along with Executive Order 202.10 and 202.14 which authorized remote notarization and electronic witnessing for deeds (which we blogged about HERE and HERE), real estate professionals can get back to work and close some deals.

Monday, December 16, 2019

New Law: Notice of Conveyance to Current Owner of Record

On December 12, 2019, Governor Andrew Cuomo signed into law Senate Bill S5372 which amends Real Property Law § 291. Effective March 11, 2020, upon receiving a request to record a new conveyance, the county clerk or city registrar shall mail a written notice of the conveyance of real property to the current owner of record. Such notice must have the heading printed in 20-point bold type and read as follows:

Name of owner of record
Our records show that you are listed as the current owner of record for residential property:
Block # __________ Lot # ________
Located At: ___________________________ street address
in the county of __________________ New York
On ____________, documents were filed at this

office to change ownership and transfer title of your property.

To: ______________________________
name of new owner
If you have any questions regarding the validity of the documents, and wish to dispute the recording of the transfer, you should obtain legal counsel. If you believe you are a victim of a crime related to this recording, contact your local law enforcement agency or, if in the City of New York, the office of the sheriff.

The person seeking to record a new conveyance shall bear the costs of the written notice which shall cover the cost of mailing the notice to the owner of record. However, failure to mail such notice or the failure of any party to receive the same, shall not affect the validity of the conveyance of the property.