This text of New York § 19.17 (Clarifying title to property on loan) is published on Counsel Stack Legal Research, covering New York primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
§ 19.17 Clarifying title to property on loan. Notwithstanding any\nother provisions of law regarding abandoned or lost property the office\nmay, beginning five years from the date the lender last contacted the\noffice, clarify title to property on permanent loan or loaned for an\nindeterminate period or a specified term that has expired. Proof of the\ndate on which the lender last contacted the office may include\npreviously sent registered letters or loan forms, returned envelopes,\ninventories and other documentary evidence. The procedure for clarifying\ntitle shall be as follows:\n 1. The office must give notice by mail to the lender that it wishes to\nclarify ownership rights in the property.\n 2. In addition to the information described in section 19.16 of this\narticle, the noti
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§ 19.17 Clarifying title to property on loan. Notwithstanding any\nother provisions of law regarding abandoned or lost property the office\nmay, beginning five years from the date the lender last contacted the\noffice, clarify title to property on permanent loan or loaned for an\nindeterminate period or a specified term that has expired. Proof of the\ndate on which the lender last contacted the office may include\npreviously sent registered letters or loan forms, returned envelopes,\ninventories and other documentary evidence. The procedure for clarifying\ntitle shall be as follows:\n 1. The office must give notice by mail to the lender that it wishes to\nclarify ownership rights in the property.\n 2. In addition to the information described in section 19.16 of this\narticle, the notice shall be entitled "Notice of Termination" and must\ninclude a statement containing substantially the following information:\n"The records of the office of parks, recreation and historic\npreservation indicate that you have property on loan at (name of\nfacility). The office is seeking to determine whether you wish (i) that\nthe office return the property to you, (ii) that the property remain on\nloan to the office subject to annual renewal, or (iii) that the office\nretain the property permanently as its owner. Please contact (name of\ncontact) in writing within one hundred twenty days, in order to advise\nthe office as to which of the above alternatives you wish to follow."\n 3. If, no later than one hundred twenty days following receipt\nthereof, the lender does not respond to the notice of termination by\nsubmitting a written claim to the property on loan with verifying\ndocumentation the office shall send a second notice to the lender\ncontaining the following information: "On (date of first notice), the\noffice of parks, recreation and historic preservation sent you a notice\nconcerning property that, according to our records, has been loaned to\nthe office. You have not responded to that notice, a copy of which is\nenclosed, and the office will commence proceedings to acquire title to\nthe property if you do not contact (name of contact), in writing within\none hundred twenty days of receiving this second notice."\n 4. If the lender fails to respond to the second notice described in\nsubdivision three of this section within one hundred twenty days of\nreceipt, at the request of the commissioner, the attorney general may\nmake an application to the supreme court pursuant to article thirty of\nthe civil practice law and rules for a declaratory judgment to determine\nthe office's right to such property. In a case in which there is no\nevidence that the notices previously sent by the office were received by\nthe lender, upon application, the supreme court shall specify the method\nby which service shall be made upon the lender.\n