S5177

The New York State Senate passed legislation to combat deed theft by imposing new notary recordkeeping requirements, advancing a bill sponsored by Sen. Comrie that targets a growing problem of property fraud targeting seniors and vulnerable homeowners. The measure passed 51-8 on a roll call vote. Supporters, including Sen. Bailey, argued the bill provides necessary tools to combat rampant deed theft schemes that have resulted in significant loss of generational wealth, citing cases where fraudsters have intimidated seniors and taken over their properties. Sen. Comrie referenced a recent fraud case announced by District Attorney Melinda Katz and instances in Queens where perpetrators moved into seniors' homes and seized their deeds. Opponents, led by Sen. Canzoneri-Fitzpatrick, an attorney with 30 years of real estate practice, contended the bill will burden notaries without effectively stopping sophisticated fraudsters capable of forging signatures and stealing identities. She cited a New York State Bar Association report questioning whether additional notary recordkeeping requirements address the underlying problem. Eight senators voted against the measure: Canzoneri-Fitzpatrick, Gallivan, Griffo, Oberacker, O'Mara, Rhoads, Tedisco, and Walczyk. The bill now advances for further consideration.