Bill Text: NY A02499 | 2017-2018 | General Assembly | Amended
Bill Title: Requires signatures of all owners of leased premises for a lease of oil, gas or mineral rights, and for any modification, renewal or extension thereof.
Spectrum: Partisan Bill (Democrat 10-0)
Status: (Introduced - Dead) 2018-02-27 - amended on third reading 2499a [A02499 Detail]
Download: New_York-2017-A02499-Amended.html
STATE OF NEW YORK ________________________________________________________________________ 2499--A Cal. No. 672 2017-2018 Regular Sessions IN ASSEMBLY January 20, 2017 ___________ Introduced by M. of A. LIFTON, L. ROSENTHAL, JAFFEE, ENGLEBRIGHT, ABINANTI, TITONE -- Multi-Sponsored by -- M. of A. DINOWITZ, GLICK, GOTTFRIED, MAGEE -- read once and referred to the Committee on Judici- ary -- recommitted to the Committee on Judiciary in accordance with Assembly Rule 3, sec. 2 -- advanced to a third reading, amended and ordered reprinted, retaining its place on the order of third reading AN ACT to amend the general obligations law and the real property law, in relation to requiring the signatures of all owners of leased prem- ises for every lease for oil, gas or mineral rights, and any modifica- tion, extension or renewal thereof The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. Subdivision 6 of section 5-333 of the general obligations 2 law, as added by chapter 386 of the laws of 2005, is amended and two new 3 subdivisions 3-a and 5-a are added to read as follows: 4 3-a. Notwithstanding any other provision of law, rule or regulation 5 to the contrary, any oil, gas or mineral lease concerning oil, gas or 6 mineral rights shall be signed by all owners of the leased premises as 7 of the date the lease is signed. Any oil, gas or mineral lease which 8 contains less than every signature of all owners of the leased premises 9 shall be void and unenforceable in its entirety as to any surface 10 rights, and void and unenforceable as to any sub-surface interest. 11 5-a. No modifications, including extensions and renewals, of any oil, 12 gas or mineral lease shall be effective unless it contains the notice of 13 cancellation provisions set forth in subdivision five of this section. 14 6. The provisions of subdivisions one, two, three and four of this 15 section shall apply to leases entered into on or after January first, 16 nineteen hundred eighty-five [and], the provisions of subdivision five 17 of this section shall apply to leases entered into on or after January 18 first, two thousand six, and the provisions of subdivisions three-a and EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD07911-02-8A. 2499--A 2 1 five-a of this section shall apply to leases entered into on or after 2 January first, two thousand nineteen. 3 § 2. Section 291-c of the real property law is amended by adding a new 4 closing paragraph to read as follows: 5 For any oil, gas or mineral lease concerning oil, gas or mineral 6 rights signed on or after January first, two thousand nineteen, any 7 recording of a memorandum of lease, including any modification, exten- 8 sion or renewal, shall be signed by all owners of the leased premises. 9 Any memoranda not signed by all owners of the leased premises is void 10 and unenforceable. 11 § 3. Section 291-cc of the real property law, as added by chapter 472 12 of the laws of 1962, is amended to read as follows: 13 § 291-cc. [1.] Recording modifications of leases. 1. Where a lease or 14 memorandum of such lease has been recorded, an unrecorded agreement 15 modifying such lease or memorandum is void as against a subsequent 16 purchaser in good faith and for a valuable consideration, and the 17 possession of the tenant shall not be deemed notice of the modification, 18 unless the agreement of modification or a memorandum thereof is recorded 19 prior to the recording of the instrument by which the subsequent 20 purchaser acquires his estate or interest. 21 2. A memorandum of an agreement modifying a lease shall contain at 22 least the following information with respect to the agreement: the names 23 of the parties and the addresses, if any, set forth in the agreement; a 24 reference to the agreement with its date of execution; a brief 25 description of the leased premises in form sufficient to identify the 26 same; any changes made by the agreement in the term of the lease and the 27 date of the termination of the lease as modified, and any changes in the 28 provisions of the lease as to the rights of extension or renewal. 29 3. For the purpose of this section the word "purchaser" includes a 30 person who purchases or acquires by exchange or contracts to purchase or 31 acquire by exchange the leased premises or the real property of which 32 the leased premises are part or any estate or interest therein, or 33 acquires by assignment the rent to accrue from tenancies or subtenancies 34 thereof in existence at the time of the assignment. 35 4. For any oil, gas or mineral lease concerning oil, gas or mineral 36 rights signed on or after January first, two thousand nineteen, any 37 recording of a modification of a lease, including any extension or 38 renewal, shall be signed by all owners of the leased premises. Any 39 modifications not signed by all owners of the leased premises is void 40 and unenforceable. 41 § 4. This act shall take effect January 1, 2019.
