New York S03737 aims to prevent fraudulent deed transfers by requiring explicit language on deeds and prohibiting transfers as part of mortgage.

New York S03737 amends the real property law and banking law to prevent fraudulent deed transfers. It mandates that deeds contain explicit language warning the transferor of ownership transfer and requires a notarized signature. It prohibits deed transfers as part of mortgage modifications and outlines civil penalties for non-compliance. The act also empowers the banking department to investigate claims of fraudulent transfers.

New York S03737 aims to prevent fraudulent deed transfers by requiring explicit language on deeds and prohibiting transfers as part of mortgage.

New York S03737 amends the real property law and banking law to prevent fraudulent deed transfers. It mandates that deeds contain explicit language warning the transferor of ownership transfer and requires a notarized signature. It prohibits deed transfers as part of mortgage modifications and outlines civil penalties for non-compliance. The act also empowers the banking department to investigate claims of fraudulent transfers.