N.Y. Real Property Law 297-A – Recording of certified copies of bankruptcy papers; constructive notice
§ 297-a. Recording of certified copies of bankruptcy papers; constructive notice. 1. A copy of a petition in bankruptcy with the schedules omitted, of a decree of adjudication of bankruptcy and of an order approving the bond of a trustee in bankruptcy, or any of them, in each case certified in accordance with the laws of the United States applicable at the time of certification, may be recorded in the office of the recording officer of any county, irrespective of the location of the United States district court having jurisdiction of the bankruptcy proceeding or in which such petition was filed or order of adjudication or approval of the trustee's bond was made.
Terms Used In N.Y. Real Property Law 297-A
- Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
- conveyance: includes every written instrument, by which any estate or interest in real property is created, transferred, mortgaged or assigned, or by which the title to any real property may be affected, including an instrument in execution of a power, although the power be one of revocation only, and an instrument postponing or subordinating a mortgage lien; except a will, a lease for a term not exceeding three years, an executory contract for the sale or purchase of lands, and an instrument containing a power to convey real property as the agent or attorney for the owner of such property. See N.Y. Real Property Law 290
- Deed: The legal instrument used to transfer title in real property from one person to another.
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- recorded: means the entry, at length, upon the pages of the proper record books in a plain and legible hand writing, or in print or in symbols of drawing or by photographic process or partly in writing, partly in printing, partly in symbols of drawing or partly by photographic process or by any combination of writing, printing, drawing or photography or either or any two of them, or by an electronic process by which a record or instrument affecting real property, after delivery is incorporated into the public record. See N.Y. Real Property Law 290
- recording officer: means the county clerk of the county, except in a county having a register, where it means the register of the county. See N.Y. Real Property Law 290
- Trustee: A person or institution holding and administering property in trust.
2. (a) Each paper, together with the certification thereof, recorded pursuant to this section shall, for the purposes of recording, transcription, reproduction and indexing, be regarded as a deed by the bankrupt or alleged bankrupt to the trustee in bankruptcy named therein or, if no trustee be named, to the trustee appointed, or thereafter to be appointed.
(b) In counties where, under certain circumstances and pursuant to law, deeds or other instruments are recordable among miscellaneous instruments, or indexed in the index of such instruments, each of the papers shall be similarly recorded or indexed. In other counties or cases, it shall be recorded or indexed as a deed.
(c) Where the paper so recorded does not reveal the name of the trustee in bankruptcy, the recording officer shall substitute, for the name of the grantee in the index or indices in his office where the name of the grantee in a deed is required to be entered, the words "Trustee in bankruptcy"; but any irregularity or failure of the recording officer in compliance with this paragraph shall not invalidate the record thereof.
(d) The recording of the paper and the certification thereof shall have the same effect as constructive notice as if it were a conveyance to a named grantee, duly acknowledged or proved and recorded.
(e) The petition, decree or order referred to in subdivision 1 of this section may be one either heretofore or hereafter filed or made pursuant to any law of the United States relating to bankruptcy.