Establishes the New York title guaranty program to provide title insurance for real property within the state.

The bill establishes the New York title guaranty program to offer title insurance for real property within the state. It creates the New York title guaranty corporation to administer the program. The corporation will determine the terms, conditions, and form of the guaranty contract and set charges for the program. Participating attorneys and abstractors may be required to pay an annual participation fee. The corporation will maintain a statewide electronic database of real property, accessible to participating abstractors and attorneys, and potentially to the public.

Establishes the New York title guaranty program to provide title insurance for real property within the state.

The bill establishes the New York title guaranty program to offer title insurance for real property within the state. It creates the New York title guaranty corporation to administer the program. The corporation will determine the terms, conditions, and form of the guaranty contract and set charges for the program. Participating attorneys and abstractors may be required to pay an annual participation fee. The corporation will maintain a statewide electronic database of real property, accessible to participating abstractors and attorneys, and potentially to the public.