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13-2.2 - Transfers and Mortgages of Interest in Decedents' Estates Required to Be in Writing and Recorded

NY Est Pow & Trusts L § 13-2.2 (2019) (N/A)
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(a) Every conveyance, assignment or other transfer of, and every mortgage, security interest in or other charge upon the interest, situated in this state, of a person in the estate of a decedent, which is situated in this state, shall be in writing and acknowledged or proved in the manner prescribed by the laws of this state for the recording of a conveyance of real property. Any such instrument may be recorded as hereinafter provided, and if not so recorded, it is void against any subsequent purchaser or mortgagee of such interest, in good faith and for valuable consideration, whose conveyance or mortgage is first duly recorded. If such interest is entirely in the personal property of a decedent, the conveyance or mortgage may be recorded in the office of the surrogate granting letters on such decedent's estate or, if no such letters have been granted, in the office of the surrogate having jurisdiction to grant them. If a security interest, subject to article 9 of the uniform commercial code, is created by a transaction described in this paragraph, a financing statement shall be filed as required by section 9--501 of such code. If such interest is in both the personal and the real property of a decedent, the conveyance or mortgage may be recorded in the office of such surrogate and in the office of the recording official of the county in which the real property is situated and, if a security interest in personal property is created, a financing statement shall be filed in accordance with section 9--401 of the uniform commercial code. Such a conveyance or mortgage, when so recorded, shall be indexed under the name of the decedent in a book to be kept for that purpose by each recording officer.

(b) Such filing or recording shall not be notice of such conveyance, assignment or other transfer of, or mortgage, security interest or other charge upon the interest, situated in this state, of any person in the estate of a decedent so as to charge a personal representative of the estate with liability for payment to a beneficiary of the estate, unless and until he has received actual notice of any such transfer, mortgage or other charge.

(c) In case of a conflict between this section and article 9 of the uniform commercial code, this section controls.

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13-2.2 - Transfers and Mortgages of Interest in Decedents' Estates Required to Be in Writing and Recorded