N.Y. RPP Law § 291-E — New York Code / Act RPP / Article 9 / Section 291-E
Exceptions, reservations and recitals referring to unrecorded conveyances and contracts for sale of real property
Status: in_force

§ 291-e. Exceptions, reservations and recitals referring to unrecorded\nconveyances and contracts for sale of real property. 1. This section\napplies to any language, contained in a conveyance of real property in\nthis state, which (a) excepts or reserves a part or any or all parts of\nthe described premises which have been or may have been previously\nconveyed, or previously contracted to be sold or exchanged, by the\ngrantor or by a previous owner, or (b) otherwise indicates that the\npremises or some part or parts thereof have been or may have been\npreviously conveyed or that a contract has been or may have been\npreviously made for the sale or exchange of all or some part or parts\nthereof, or (c) indicates that only such part of the premises described\nis intended to be conveyed as the grantor, or a previous owner, has not\npreviously conveyed or has not previously contracted to sell or\nexchange, and, in any of the cases described in this subdivision, fails\nto identify the premises previously conveyed or contracted to be sold or\nexchanged in any other manner than by indicating that a conveyance or\ncontract has previously been made or indicating the fact or possibility\nthat one or more conveyances or contracts have been or may have been\npreviously made.\n  2. An exception, reservation or recital described in subdivision one\nof this section is (a) void as against a subsequent purchaser in good\nfaith and for a valuable consideration, who has no other notice of the\nidentity of the premises to which it refers, and (b) ineffective to give\nnotice to such subsequent purchaser of the previous conveyance or\ncontract so referred to or create any duty of inquiry with respect\nthereto, unless, in either case, such previous conveyance or contract is\nsufficient to identify the premises to which the exception, reservation\nor recital refers and is recorded as provided in this article before the\nrecording of the instrument by which the subsequent purchaser acquires\nhis estate or interest.\n  3. For the purposes of this section,\n  (a) "Purchaser" includes a person who purchases or acquires by\nexchange or contracts to purchase or acquire by exchange the same\npremises or any portion thereof or 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  (b) Contract for sale includes an option to purchase or lease.\n  (c) A lease, or a contract or option, is recorded when a memorandum\nthereof is recorded as provided in section two hundred ninety-one-c or\nsection two hundred ninety-four of this chapter.\n  (d) The recording of a contract or option, or memorandum thereof,\npursuant to section two hundred ninety-four of this chapter, is\neffective up to and including the thirtieth day after the day fixed\ntherein for the conveyance of title, or the thirtieth day after the last\nday fixed therein for the exercise of the option, provided, that if a\nwritten declaration of the exercise of the option has been recorded as\nprovided in subdivision seven of section two hundred ninety-four, the\nrecording of the option is effective to and including the thirtieth day\nafter the last day fixed pursuant to the option agreement for the\nconveyance of title or the execution and delivery of the lease, as the\ncase may be. An agreement extending the time for the conveyance of\ntitle, acknowledged or proved, and certified, in the manner to entitle a\nconveyance to be recorded, may be recorded, and the recording shall be\neffective up to and including the thirtieth day after the day fixed by\nsuch agreement for the conveyance of title.\n  4. This section shall not impair the effect of an exception,\nreservation or recital to limit any warranty of the grantor in the\nconveyance in which it is contained.\n  5. This section shall apply where the instrument by which the\nsubsequent purchaser acquires his estate or interest is executed on or\nafter September first, nineteen hundred sixty, except that where the\nconveyance containing an exception, reservation or recital described in\nsubdivision one of this section was executed before September first,\nnineteen hundred sixty, this section shall apply only where the\ninstrument by which the subsequent purchaser acquires his estate or\ninterest is executed on or after September first, nineteen hundred\nsixty-one.\n