This section of New York Real Property Law governs the registration of titles to real property. It provides a system for guaranteeing the ownership of land and simplifying the process of transferring property. By registering a title, an owner receives a certificate that serves as conclusive evidence of ownership, streamlining future transactions and protecting against certain title defects. For example, a homeowner registering their property under this system gains assurance against adverse possession claims and simplifies the sale or mortgage process.
The system offers significant benefits, including reduced transaction costs and increased security of ownership. It minimizes the risk of fraud and simplifies the resolution of title disputes. Historically, this legislation aimed to address inefficiencies and uncertainties associated with traditional methods of title assurance, moving away from reliance on complex title searches and chains of deeds. The system fosters greater transparency and efficiency in real estate transactions, ultimately benefiting both buyers and sellers.
