§ 291-CC — Recording modifications of leases

New York § 291-CC

• Jurisdiction: New York
• Law RPP: Real Property
• Art. 9: Recording Instruments Affecting Real Property

Text

§ 291-cc. 1. Recording modifications of leases. Where a lease or\nmemorandum of such lease has been recorded, an unrecorded agreement\nmodifying such lease or memorandum is void as against a subsequent\npurchaser in good faith and for a valuable consideration, and the\npossession of the tenant shall not be deemed notice of the modification,\nunless the agreement of modification or a memorandum thereof is recorded\nprior to the recording of the instrument by which the subsequent\npurchaser acquires his estate or interest.\n 2. A memorandum of an agreement modifying a lease shall contain at\nleast the following information with respect to the agreement: the names\nof the parties and the addresses, if any, set forth in the agreement; a\nreference to the agreement with its date of execution; a brief\ndescription of the leased premises in form sufficient to identify the\nsame; any changes made by the agreement in the term of the lease and the\ndate of the termination of the lease as modified, and any changes in the\nprovisions of the lease as to the rights of extension or renewal.\n 3. For the purpose of this section the word "purchaser" includes a\nperson who purchases or acquires by exchange or contracts to purchase or\nacquire by exchange the leased premises or the real property of which\nthe leased premises are part or any estate or interest therein, or\nacquires by assignment the rent to accrue from tenancies or subtenancies\nthereof in existence at the time of the assignment.\n