EXECUTIVE COMMITTEE MEETING
New York State Land Title Association
Benchmark Title Agency
222 Bloomingdale Road, White Plains, NY
January 14, 2020
10:30 AM

AGENDA

1.    Call to order – President  Pereyo
2.    President’s Greeting – President Pereyo
3.    Approval of December Minutes - Executive Director Treuber
4.    Exec Director Report – Executive Director Treuber
5.    Treasurer’s Report – Mr. Frates
6.    Litigation Committee Report – Mr. Giliotti
       a.    Status of Appellate Court ruling
       b.    Discussion and decision of next steps
7.    Advocacy Committee Report – President Pereyo
       a.    Review of legislative strategy and action plan
       b.    Discussion and decision on proposed Talking Points  
c.    Discussion and decision on draft legislation
8.    Public Option Committee Report – Chair Thanasules
9.    Education Committee – Chair Polidoro
       a.    2020 CE/CLE plan
10.    Legislative Committee Report – Chair Keyse
       a.    Standing in Foreclosure
       b.    SHIELD Law
11.    Membership Committee Report – Chair O’Hara
12.    Technology Committee Report -Chair Zankel
       a.    Cybersecurity rule 500 compliance certificate
       b.    Title Tech Expo update
13.    Title Section Report – Chair Thanasules
14.    Agent Section Report – Chair Giliotti
15.    New Business
16.    Adjourn

EXECUTIVE COMMITTEE MEETING
New York State Land Title Association
First American Title Insurance Company
666 Third Avenue, New York, NY 10017
November 14, 2019
10:30 AM

AGENDA
1.    Call to order – President Pereyo
2.    President’s Greeting – President Pereyo
3.    Approval of October 2019 Minutes - Executive Director Treuber
4.    Exec Director Report – Executive Director Treuber
5.    Discussion of the LLC Disclosure Law – President Pereyo
6.    Charitable Works Committee Report – Chair Roper
7.    Education Committee – Chair Polidoro
8.    Land Records Committee – Chair Alonso
       a.    Recap ACRIS training November 7
       b.    Nassau County rejecting deeds
       c.    NYC Dept. of Finance meeting scheduled for November 19th
9.    Law Committee – Chair Danzi
10.    Legislative Committee Report – Chair Keyse
11.    Membership Committee Report – Chair O’Hara
12.    Municipal Liaison Committee Report – Chair Scaturro
13.    Technology Committee Report – Chair Zankel
14.    Litigation Committee Report – President Pereyo
15.    Advocacy Committee Report – Chair Stancanelli
16.    Agent Section Report – Chair Giliotti
         a.    NYC Tax payments
         b.    Mt. Vernon status
         c.    Agents’ dues
         d.    Iowa plan revisited
         e.    PAC
17.    Title Section Report – Chair Thanasules
18.    New Business
19.    Adjourn

The twelve voting members of the Agents and Abstracters Section will be:
Richard Giliotti    DeAnna Stancanelli    Bill Collins    Phil O’Hara
Tommy Tafuri    Andrew Zankel    Mark d’Addona    Larry Litwack
Nancy Farrell    Vincent Danzi    Michael Lisk    Terence Guerriere

The next Executive Committee Meeting will be held at 10:30 am on December 10, 2019 at First Nationwide Title Agency, 50 Charles Lindbergh Blvd. Uniondale, NY 11553.

IMPORTANT NOTE - The content of this post was emailed to NYSLTA Members on October 30, 2019.

That email included an addendum to the TP-584, which was inaccurate.  The file attached to this page is a corrected version and may be used anywhere in NY state, including NY City.

The purpose of this memo is to clarify the impact of the changes to Section 1409(a) of the New York Tax Law, which became effective September 13, 2019.

As you are aware, the new legislation requires the real property transfer tax return (the TP 584 and the TP584-NYC) relating to residential property (containing one- to four-family dwelling units) sold or purchased by a “Limited Liability Company” (LLC) to disclose information on the ownership of such company.

The legislation requires that the TP584 and the TP584-NYC MUST be accompanied by documentation that identifies the names and addresses of all members, managers and other authorized persons of the LLC.

Further, if any member of the LLC is another LLC or other business entity, all shareholders, directors, officers, members, managers, partners and authorized persons of said LLC or business entity must be listed by name and address until “full disclosure of ultimate ownership by natural persons is achieved. 

We realize that in some cases (e.g. a publicly traded corporation) this requirement will be practically impossible to comply with; we have been unofficially advised that we should submit the addendum with a statement that the entity is a publicly traded corporation and that the Clerk’s should accept the deed for recordation.

Therefore,

• If you are recording a deed; AND
• it is for residential real property containing a one- to four- family dwelling unit, AND
• a grantor or a grantee is an LLC

an addendum must be attached to the TP584 or the TP584-NYC identifying the names and addresses of all LLC members.

Although the State has not promulgated an “official” addendum to the TP forms, we attach a link to a form which has been accepted by the County Clerks.

Click the link below for a sample addendum which can be completed and submitted to fulfill the above requirements.

The Department of Taxation & Finance provides some guidance and examples here: https://www.tax.ny.gov/bus/transfer/rptidx.htm#conveyances

The NYSLTA has been actively engaged with the Dept of Taxation & Finance, the County Clerks, and the State, City and County Bar Associations regarding the foregoing.

Additionally, we have reached out to the sponsors of the legislation to provide input when an amendment is under consideration.

Further memos with guidance will be issued by NYSLTA, if and when the New York State Department of Taxation and Finance issues same.

On September 13th, Governor Cuomo Signed a bill that immediately became law.

The title insurance industry, along with County Clerks and attorneys, have  been wrestling with how to comply with this law.

I have attached two documents - letters to the Commissioner of Taxation & Finance - recounting our efforts to forestall implementation of this law pending adjustments for workability and some of the issues that have arisen since the law took effect.

As stakeholders, the Land Title Association continues to seek guidance and provide subject matter expertise.

Read the letters.

EXECUTIVE COMMITTEE MEETING
New York State Land Title Association
First Nationwide Title Agency
50 Charles Lindburgh Boulevard
Uniondale, NY
June 11, 2019
10:30 AM


AGENDA
1.    Call to order – President Stancanelli
2.    President’s Greeting – President Stancanelli
3.    Approval of May Minutes - Executive Director Treuber
4.    Exec Director Report – Executive Director Treuber
5.    Treasurer Report – Mr. Frates
6.    Title Section Report – Chair Keyse
7.    Agent Section Report – Chair Giliotti
8.    Charitable Works Committee Report – Chair Roper
9.    Law Committee – Chair Danzi
10.    New Business
11.    Adjourn

The twelve voting members of the Agents and Abstracters Section will be:
Stancanelli

Giliotti    

Farrell    

Tafuri

Partridge

Guerriere

Litwack

Swarthout
Collins

Giliotti

Zankel

Spano

The next Executive Committee Meeting will be held at the Annual Meeting on September 17, 2019 at Gurney’s Resort, Montauk, NY.