NY State — NY Real Property Law

§ 339-R — SECTION 339-R Blanket mortgages and other blanket liens affecting a unit at time of first conveyance

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Statute text reproduced from nysenate.gov. Not attorney-reviewed for your situation — for reference only.

What is NY RPL § 339-R?

Quick Answer

This section mandates that at the time of the first conveyance of each unit, all mortgages and other liens affecting that unit and any other unit must be paid and satisfied of record, or the unit and its common interest must be released from such encumbrances through a recorded partial release. Applies to property owners involved in the conveyance of units.

General informational summary. Not legal advice for your situation. Consult an attorney before acting on any specific matter.

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§ 339-R SECTION 339-R Blanket mortgages and other blanket liens affecting a unit at time of first conveyance

RPL § 339-R

§ 339-r. Blanket mortgages and other blanket liens affecting a unit at time of first conveyance. At the time of the first conveyance of each unit, every mortgage and other lien affecting such unit and any other unit shall be paid and satisfied of record, or the unit being conveyed and its common interest shall be released therefrom by partial release duly recorded.

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