§ 240. Definitions and use of terms. 1. The term “heirs,” or other words of inheritance, are not requisite to create or convey an estate in fee. 2. The term “conveyance,” as used in this article, includes every instrument, in writing, except a will, by which any estate or interest in real property is created, […]
§ 240-b. Certain conveyances authorized; effect thereof. 1. Any person or persons owning real property or an interest in real property which he or they have power to convey, may effectively convey such property or interest by a conveyance naming himself or themselves and another person or persons, or one or more of themselves and […]
§ 240-c. Joint tenancy severance. 1. In addition to any other means by which a joint tenancy with right of survivorship may be severed, a joint tenant may unilaterally sever a joint tenancy in real property without consent of any non-severing joint tenant or tenants by: (a) Execution and delivery of a deed that conveys […]
§ 241. Ancient conveyances abolished. The conveyance of real property by feoffment, with livery of seizin, or by fines, or common recoveries, is abolished.
§ 242. Disclosure prior to the sale of real property. 1. (a) Any person, firm, company, partnership or corporation offering to sell real property to which no utility electric service is provided shall provide written notice to the prospective purchaser or to the prospective purchaser’s agent, clearly indicating this fact. Such notice shall be provided […]
§ 243. Grant of fee or freehold. A grant in fee or of a freehold estate, must be subscribed by the person from whom the estate or interest conveyed is intended to pass, or by his lawful agent thereunto authorized in writing. If not duly acknowledged before its delivery, according to the provisions of this […]
§ 244. When grant takes effect. A grant takes effect, so as to vest the estate or interest intended to be conveyed, only from its delivery; and all the rules of law, now in force, in respect to the delivery of deeds, apply to grants hereafter executed.
§ 245. Estate which passes by grant or devise. A grant or devise of real property passes all the estate or interest of the grantor or testator unless the intent to pass a less estate or interest appears by the express terms of such grant or devise or by necessary implication therefrom. A greater estate […]
§ 246. Certain deeds declared grants. Deeds of bargain and sale, and of lease and release, may continue to be used; and are to be deemed grants, subject to all the provisions of law in relation thereto.
§ 247. Conveyance by tenant for life or years of greater estate than possessed. A conveyance made by a tenant for life or years, of a greater estate than he possesses, or can lawfully convey, does not work a forfeiture of his estate, but passes to the grantee all the title, estate or interest which […]
§ 248. Effect of conveyance where property is leased. An attornment to a grantee is not requisite to the validity of a conveyance of real property occupied by a tenant, or of the rents or profits thereof, or any other interest therein. But the payment of rent to a grantor, by his tenant, before notice […]
§ 249. Covenants in mortgages. A mortgage of real property does not imply a covenant for the payment of the sum intended to be secured; and where such covenant is not expressed in the mortgage, or a bond or other separate instrument to secure such payment has not been given, the remedies of the mortgagee […]
§ 251. Covenants not implied. A covenant is not implied in a conveyance of real property, whether the conveyance contains any special covenant or not.
§ 252. Lineal and collateral warranties abolished. Lineal and collateral warranties, with all their incidents, have been abolished; but the heirs and devisees of a person, who has made a covenant or agreement, are answerable thereon, to the extent of the real property descended or devised to them, in the cases and in the manner […]
§ 253. Construction of covenants in grants of freehold interests. In grants of freehold interests in real property, the following or similar covenants must be construed as follows: 1. Seizin.– A covenant that the grantor “is seized of the said premises (described) in fee simple, and has good right to convey the same,” must be […]
§ 254. Construction of clauses and covenants in mortgages and bonds or notes. In mortgages of real property, and in bonds and notes secured thereby or in assignments of mortgages and bonds and mortgages and notes, or in agreements to extend or to modify the terms of mortgages and bonds and mortgages and notes, the […]
§ 254-a. Right of election of mortgagee in certain cases. If a bond or note, or the mortgage on real property, improved by a one to six family residence occupied by the owner, securing the payment of same, contains (1) a provision whereby the mortgagee retains the right to accelerate the due date for payment […]
§ 254-b. Limitation on late charges. 1. If a bond or note, or the mortgage on real property, heretofore or hereafter made, improved by a one to six family residence occupied by the owner, securing the payment of same, or a note representing a loan for the purpose of financing the purchase of an ownership […]
§ 254-c. Right to a copy of real property appraisals and consumer reports in certain cases. 1. Any lender who requires an applicant for a loan or forbearance, which is to be secured primarily by an interest in real property, to bear the cost of either an appraisal of said property or the cost of […]
§ 254-d. Fees by mortgagee for direct payment of real property taxes by mortgagor prohibited. No mortgagor on a loan secured primarily by an interest in real property shall be charged a fee by the mortgagee because the parties have agreed that the mortgagor shall pay real property taxes on such real property directly to […]
