New York Real Property Law Article 8 - CONVEYANCES AND MORTGAGES

• 240 - Definitions and Use of Terms.
  1. The term "heirs," or other words of inheritance, are not requisite to create or convey an estate in fee. 2. The term "conveyance," as...
• 240-b - Certain Conveyances Authorized; Effect Thereof.
  1. Any person or persons owning real property or an interest in real property which he or they have power to convey, may effectively convey...
• 240-c - Joint Tenancy Severance.
  1. In addition to any other means by which a joint tenancy with right of survivorship may be severed, a joint tenant may unilaterally sever...
• 241 - Ancient Conveyances Abolished.
  The conveyance of real property by feoffment, with livery of seizin, or by fines, or common recoveries, is abolished.
• 242 - Disclosure Prior to the Sale of Real Property.
  1. (a) Any person, firm, company, partnership or corporation offering to sell real property to which no utility electric service is provided shall provide written...
• 243 - Grant of Fee or Freehold.
  A grant in fee or of a freehold estate, must be subscribed by the person from whom the estate or interest conveyed is intended to...
• 244 - When Grant Takes Effect.
  A grant takes effect, so as to vest the estate or interest intended to be conveyed, only from its delivery; and all the rules of...
• 245 - Estate Which Passes by Grant or Devise.
  A grant or devise of real property passes all the estate or interest of the grantor or testator unless the intent to pass a less...
• 246 - Certain Deeds Declared Grants.
  Deeds of bargain and sale, and of lease and release, may continue to be used; and are to be deemed grants, subject to all the...
• 247 - Conveyance by Tenant for Life or Years of Greater Estate Than Possessed.
  A conveyance made by a tenant for life or years, of a greater estate than he possesses, or can lawfully convey, does not work a...
• 248 - Effect of Conveyance Where Property is Leased.
  An attornment to a grantee is not requisite to the validity of a conveyance of real property occupied by a tenant, or of the rents...
• 249 - Covenants in Mortgages.
  A mortgage of real property does not imply a covenant for the payment of the sum intended to be secured; and where such covenant is...
• 251 - Covenants Not Implied.
  A covenant is not implied in a conveyance of real property, whether the conveyance contains any special covenant or not.
• 252 - Lineal and Collateral Warranties Abolished.
  Lineal and collateral warranties, with all their incidents, have been abolished; but the heirs and devisees of a person, who has made a covenant or...
• 253 - Construction of Covenants in Grants of Freehold Interests.
  In grants of freehold interests in real property, the following or similar covenants must be construed as follows: 1. Seizin.-- A covenant that the grantor...
• 254 - Construction of Clauses and Covenants in Mortgages and Bonds or Notes.
  In mortgages of real property, and in bonds and notes secured thereby or in assignments of mortgages and bonds and mortgages and notes, or in...
• 254-a - Right of Election of Mortgagee in Certain Cases.
  If a bond or note, or the mortgage on real property, improved by a one to six family residence occupied by the owner, securing the...
• 254-b - Limitation on Late Charges.
  1. If a bond or note, or the mortgage on real property, heretofore or hereafter made, improved by a one to six family residence occupied...
• 254-c - Right to a Copy of Real Property Appraisals and Consumer Reports in Certain Cases.
  1. Any lender who requires an applicant for a loan or forbearance, which is to be secured primarily by an interest in real property, to...
• 254-d - Fees by Mortgagee for Direct Payment of Real Property Taxes by Mortgagor Prohibited.
  No mortgagor on a loan secured primarily by an interest in real property shall be charged a fee by the mortgagee because the parties have...
• 255 - Construction of Grant of Appurtenances and of All the Rights and Estate of Grantor.
  In any grant or mortgage of freehold interests in real estate, the words, "together with the appurtenances and all the estate and rights of the...
• 256 - Construction of Grant in Executor's or Trustee's Deed of Appurtenances, and of the Estate of Testator and Grantor.
  In any deed by an executor of, or trustee under a will, the words "together with the appurtenances and also all the estate which the...
• 257 - Covenants Bind Representatives of Grantor and Mortgagor and Inure to the Benefit of Whom.
  All covenants contained in any grant or mortgage of real estate bind the heirs, executors, administrators, successors and assigns, of the grantor or mortgagor, and...
• 258 - Short Forms of Deeds and Mortgages.
  The use of the following forms of instruments for the conveyance and mortgage of real property is lawful, but this section does not prevent or...
• 259-c - Provision in Lease of Real Property for Waiver of Trial by Jury in Actions for Personal Injury or Property Damage.
  Any provision in a lease, executed after the effective date of this act, that a trial by jury is waived in any action, proceeding or...
• 260 - Lands Adversely Held May Be Conveyed or Mortgaged.
  No grant, conveyance or mortgage of real property or interest therein shall be void for the reason that at the time of the delivery thereof...
• 261 - Maintenance of Telegraph or Other Electric Wires Raises No Presumption of Grant.
  Whenever any wire or cable used for any telegraph, telephone, electric light or other electric purpose, or for the purpose of communication otherwise than by...
• 265 - Fraudulent Intent, Question of Fact.
  The question of fraudulent intent in a case arising under this article, shall be deemed a question of fact and not of law; and a...
• 265-a - Home Equity Theft Prevention.
  1. (a) The legislature finds and declares that homeowners who are in default on their mortgages or in foreclosure may be vulnerable to fraud, deception,...
• 265-b - Distressed Property Consulting Contracts.
  1. Definitions. The following definitions shall apply to this section: (a) "Homeowner" means a natural person who is the mortgagor with respect to a distressed...
• 266 - Rights of Purchaser or Incumbrancer for Valuable Consideration Protected.
  This article does not in any manner affect or impair the title of a purchaser or incumbrancer for a valuable consideration, unless it appears that...
• 267 - Conveyances With Power to Revoke, Determine or Alter.
  A conveyance of, or charge on, an estate or interest in real property, containing a provision for the revocation, determination or alteration of the estate...
• 268 - Disaffirmance of Fraudulent Act by Executor and Others.
  An executor, administrator, receiver, assignee or other trustee, may, for the benefit of creditors, or of others interested in real property held in trust, disaffirm,...
• 269 - When Remainderman May Pay Interest Owed by Life Tenant.
  Whenever real property held by any person for life is incumbered by mortgage or other lien, the interest on which should be paid by the...
• 270 - Powers of Courts of Equity Not Abridged.
  Nothing contained in this article abridges the powers of courts of equity to compel the specific performance of agreements in cases of part performance.
• 271 - Construction of Covenants in Mortgages on Leases of Real Property and Bonds or Notes.
  In mortgages on leases of real property and in bonds or notes secured thereby, the following or similar covenants or agreements must be construed as...
• 272 - Construction of Grant of Appurtenances, and All of the Rights and Estate of the Mortgagor.
  In any mortgage on a lease of real property the words "together with the appurtenances and all the estate and rights of the part .........
• 273 - What Form of Mortgage on Lease of Real Property.
  The use of the following form of instrument for mortgages on leases of real property is lawful, but this section does not prevent or invalidate...
• 274 - Transfers and Mortgages of Interest in Decedents' Estates.
  Every conveyance, assignment, or other transfer of, and every mortgage or other charge upon the interest, or any part thereof, of any person in the...
• 274-a - Certificate of Principal Amount Unpaid on Mortgages of Real Property.
  1. The holder of a mortgage upon real property shall execute and deliver to the owner of the real property upon which such mortgage is...
• 275 - Certificate of Discharge of Mortgage Required.
  1. Whenever a mortgage upon real property is due and payable, and the full amount of principal and interest due on the mortgage is paid,...
• 276 - Effect of Certain Easements on the Right to Invest in Mortgages.
  The existence of an easement in real property acquired or reserved by a municipal corporation, a railroad corporation or other transportation corporation, shall not be...
• 277 - Modification and Extension of Mortgage Investment.
  1. Corporations, trustees, executors, administrators, guardians, committees, conservators and other persons holding trust funds, savings banks and other corporations that shall have made or shall...
• 277-a - Powers of Fiduciaries and Others Holding Guaranteed Mortgages or Mortgage Investments.
  Trustees, executors, administrators, guardians, committees for incompetents, conservators of conservatees and all other persons acting in any fiduciary capacity, including all officials of the state...
• 278 - Exchange of Mortgage Investment.
  Trustees, executors, administrators, guardians, committees, conservators, receivers, the town treasurer of any town and other persons and corporations holding trust funds, corporations and private bankers...
• 278-a - Sale or Exchange of Certain Real Property or Mortgage Investments Therein Authorized.
  Trustees, executors, administrators, guardians, committees, conservators and all other persons or corporations holding trust funds or acting in a fiduciary capacity, corporations and private bankers...
• 279 - Graduated Payment Mortgage.
  1. A "graduated payment mortgage" means a mortgage which provides: (i) monthly payments of principal and interest which are lower during the initial years of...
• 280 - Reverse Mortgage Loans for Persons Sixty Years of Age or Older.
  1. For purposes of this section the following terms shall have the following meanings: (a) Reverse mortgage loans. A loan which is secured by a...
• 280-a - Reverse Mortgage Loans for Persons Seventy Years of Age or Older.
  1. For purposes of this section, the following terms shall have the following meanings: (a) Reverse mortgage loan. A loan which is secured by a...
• 281 - Credit Line Mortgage.
  1. (a) For the purposes of this section, a "credit line mortgage" shall mean any mortgage or deed of trust, other than a mortgage or...
• 282 - Mortgagor's Right to Recover Attorneys' Fees in Actions or Proceedings Arising Out of Foreclosures of Residential Property.
  282. Mortgagor's right to recover attorneys' fees in actions or proceedings arising out of foreclosures of residential property. 1. Whenever a covenant contained in a...

Last modified: February 3, 2019