Cornerstone Land Abstract

At a meeting held in June 2011 the assistant Commissioner of Finance and City Register met with members of the Land Records Committee. It was confirmed that an Affidavit in Lieu of Registration Statement is REQUIRED to accompany all deeds that transfer real property NOT improved by a multiple dwelling (i.e. three families or more). This form is used when recording a deed with NYC's Department of Finance if the property classification does not require that a property registration be filed with HPD. This form is submitted directly to the Department of Finance. Alternatively, a Registration Statement, also known as a "Preliminary Residential Property Transfer Form", is required to be filed when recording a deed or a lease of a building which is a multiple dwelling in New York City ( i.e. three families or more).

Effective May 3, 2009, pursuant to the requirements of Local Law 56 of 2008, a Registration Statement is required to be filed for all one-and-two family dwellings "when neither the owner nor any family member occupies the dwelling". It appears that a Registration Statement is now required when neither the owner nor any family member occupies a multiple dwelling. A "family member" for this purpose is defined to include "an owner's spouse, domestic partner, parent, Parent-in-law, child, sibling, sibling-in-law, grandparent or grandchild."

The Local Law, which amends Sections 27-2097 ("Registration; time to file"), 27-2098 ("Registration statement; contents") and 27-2099 ("Registration statement; change of ownership or title") of the City's Administrative Code, can be obtained at http://www.nyccouncil.info/pdf_files/bills/law08056.pdf.

The Department of Housing Preservation and Development has issued a revised Affidavit in Lieu of Registration. Accordingly, effective immediately, at all closings when an Affidavit in Lieu of Registration Statement is required to be filed with the instrument for recording, the revised form of Affidavit must be used.