This glossary gives plain-English definitions of the title and closing terms used in New York real estate transactions: what title insurance is, what a title company does, what a deed is, what a lis pendens means, and why New York uses mortgages rather than deeds of trust. Unmarked terms apply statewide. Terms marked NYC apply only in the five boroughs, and terms marked Westchester apply only there. Entries link to the guide that covers each term in depth.
One distinction runs through the whole list: a search shows what is on file, while the policy decides what is insured. A violation can appear on a search without being a lien, and an item on a title report can still be excepted from coverage.
A
ACRIS
The Automated City Register Information System, the free online database of documents recorded with the NYC Department of Finance’s Office of the City Register. It covers Manhattan, Brooklyn, Queens and the Bronx from 1966 forward, not Staten Island or Westchester, and it does not show judgments, lis pendens or mechanic’s liens filed with the County Clerk. See how to read ACRIS for title.
Ancillary fees
Title company charges for services the premium does not include, such as municipal searches, Patriot and bankruptcy searches and recording service. They vary by company and must be disclosed. See the New York title bill explained.
Assignment of mortgage
A recorded document that transfers a mortgage from one lender to another. The last assignee of record is the party who must sign the satisfaction when the loan is paid.
B
BBL (NYC)
Borough, block and lot: the tax parcel number for every New York City property. ACRIS indexes documents by BBL, and each condominium unit has its own lot, separate from the building’s base lot.
Bring-down
Updating the title search from the date of the title report to the closing, so the closer can confirm nothing new has been recorded or filed. Also called a continuation. See who does what at a New York closing.
Building loan contract
A construction lender’s agreement to fund improvements. Under Lien Law § 22 it must be filed with the County Clerk, with the borrower’s sworn statement, on or before the day the building loan mortgage is recorded, or later advances lose priority to mechanic’s liens. See Lien Law Section 22.
C
CEMA
Consolidation, extension and modification agreement. The existing mortgage is assigned to the new lender instead of being paid off, a gap mortgage secures any new money, and the two are combined into one lien, so mortgage recording tax is paid only on the new money. See what a CEMA is.
Certificate of Correction (NYC)
The Department of Buildings (DOB) process for proving a violation has been fixed. Paying an OATH penalty does not by itself close the underlying DOB violation; an approved certificate of correction or a dismissal does.
Certificate of occupancy (CO)
The building department document stating a building’s legal use and occupancy. In NYC it is issued by DOB, and buildings that existed before 1938 and have not changed use may lawfully have none. In Westchester, each city, town and village issues its own. No statute requires a CO to transfer a deed, but contracts and lenders often do. See no CO in NYC and Westchester permits and COs.
City Register (NYC)
The NYC Department of Finance office that records deeds, mortgages and related documents for Manhattan, Brooklyn, Queens and the Bronx. Staten Island documents go to the Richmond County Clerk instead.
Closer (title closer)
The title company’s representative at closing, who updates the title report, collects premiums, taxes and fees, takes payoff checks and takes documents for recording. By regulation the closer represents the title insurer or title agent (11 NYCRR § 35.1(h)), not the buyer, seller or lender.
Closing protection letter (CPL)
A letter, common in other states, in which a title insurer covers a lender against misconduct by the closing agent. Title insurers do not issue them on New York property; the regulator prohibited them in 1992. See closing protection letters in New York.
Common charge lien
The lien a condominium board of managers has on a unit for unpaid common charges. Under Real Property Law § 339-z it ranks ahead of other liens except tax liens, the first mortgage of record and certain government housing mortgages, and a filed notice lasts six years unless paid sooner (§ 339-aa). See condo common charge liens.
Co-op lien search
The search on a co-op purchase, where the buyer acquires shares and a proprietary lease rather than real property. It checks UCC filings against the shares, judgments, liens and bankruptcies against the parties, and the building’s owner and mortgages. Co-op financing statements are filed in the real property recording office (UCC § 9-501(a)(1)(C)), which in the four ACRIS boroughs is the City Register (DOF). See buying a co-op.
CRFN (NYC)
City Register File Number, the recording number ACRIS assigns to each document. Older documents are identified by reel and page instead.
D
Date of Policy
The date as of which a title policy insures, usually the closing date. Matters created after that date are generally excluded.
Deed
The signed document that transfers ownership of real property from the grantor (seller) to the grantee (buyer). It must be acknowledged to be recorded, and it should be recorded promptly: under Real Property Law § 291, an unrecorded deed is void against a later good-faith buyer for value whose deed is recorded first. Real Property Law § 258 sets out the statutory forms, including full covenant and warranty, bargain and sale, quitclaim, executor’s and referee’s deeds. An executor’s deed is signed by an executor under letters testamentary.
Deed, bargain and sale with covenant against grantor’s acts
The customary deed in a New York residential sale. Its only promise is that the seller has done nothing to encumber the property; it does not warrant title against everyone, which is one reason buyers rely on an owner’s policy. The NYSBA’s Westchester practice survey describes it as the typical deed there.
Deed of trust
A security instrument used in many states, in which the borrower conveys title to a trustee who can sell the property without a court case on default. New York uses mortgages instead: the Fannie Mae and Freddie Mac uniform instrument for New York is Form 3033, the New York Mortgage, and foreclosure ordinarily goes through the courts. When an out-of-state lender’s instructions say “deed of trust,” read it as the mortgage.
Deed theft
Recording a deed without the owner’s knowledge or valid consent, often by forgery. A forged deed is void, but clearing the record takes time and money. NYC (DOF) and Westchester (County Clerk) both offer free recording alerts. See deed theft in NYC and the deed theft law for practitioners.
Deviation
An underwriter’s approved departure from the TIRSA filed rate. In practice it lowers owner’s policy premiums under $1 million on some underwriters’ paper. Loan policies follow the TIRSA rate.
E
ECB / OATH (NYC)
OATH, the Office of Administrative Trials and Hearings, is the City court that hears summonses once heard by the Environmental Control Board (ECB), which is why title reports still say “ECB.” An unpaid penalty can become a money judgment against the person named, and some DOB-issued judgments become tax liens on the building. See ECB and HPD charges and the new owner.
Endorsement
An addition to a title policy that adds or changes coverage, such as the TIRSA residential mortgage or condominium endorsement. Endorsement charges are filed rates: many are $50, and some carry no charge.
Escrow
In a New York closing the word usually means one of three things: the contract deposit held in the seller’s attorney’s escrow account; a holdback of part of the seller’s proceeds until an open item is cleared; or the lender’s account for taxes and insurance. New York residential deals do not use a separate escrow company. See who does what at a New York closing.
Exception (Schedule B)
A matter the title policy lists as not covered, such as a recorded easement, a survey matter or an unpaid lien that was not cleared. The owner takes title subject to it with no coverage, unless it is removed or the insurer agrees to insure over it.
F
Federal tax lien
A lien filed by the IRS against a taxpayer. On real property it is filed with the City Register in the four ACRIS boroughs and with the County Clerk in Staten Island and Westchester (Lien Law § 240). It is indexed by name, so a BBL search can miss it.
G
Gap mortgage
In a CEMA, the new mortgage that secures only the new money. It carries the only taxable amount for mortgage recording tax.
H
Heirship affidavit
A sworn statement, usually from people who knew the deceased owner, identifying the heirs when no court decree does. Title companies rely on these when no one has been appointed by the Surrogate’s Court. See buying or selling from an estate.
Holdback
Part of the seller’s proceeds held after closing until an open item, such as a lien awaiting satisfaction or a violation being cured, is resolved. See open items days before closing.
HPD (NYC)
The Department of Housing Preservation and Development, which enforces the Housing Maintenance Code in residential buildings. Its Class A, B and C violations are not liens. Its Emergency Repair Program charges are billed through DOF and become tax liens once past due and unpaid. See NYC property violations at closing.
J
Judgment lien
A money judgment becomes a lien on the debtor’s real property in a county once it is docketed with that county’s clerk, and it generally lasts ten years unless renewed (CPLR 5203). A judgment docketed against a prior owner while that owner held title can still bind the property. See lien or judgment found in the title search.
L
Letter of No Objection (NYC)
A DOB letter confirming that a building’s use is lawful without a certificate of occupancy, typically for pre-1938 buildings whose use has not changed.
Letters testamentary and letters of administration
Surrogate’s Court documents that give a person authority to act for an estate. An executor named in a probated will receives letters testamentary; an administrator appointed when there is no will receives letters of administration. See probate and real estate.
Lien
A legal claim against property that secures a debt, such as a mortgage, judgment, tax lien or mechanic’s lien. A lien has to be paid, released or excepted. A violation is a record of a condition and is not a lien by itself.
Lis pendens (notice of pendency)
Latin for “pending suit”: a notice filed with the County Clerk that a lawsuit affects title to the property, such as a foreclosure. Anyone who records an interest after it is filed is bound by the outcome (CPLR 6501). It lasts three years unless extended before it expires (CPLR 6513), except that a notice filed by a prosecutor in a criminal case affecting title, such as deed theft, lasts until the case ends (CPLR 6501). It does not appear in ACRIS.
Loan policy
A title policy that protects the lender, written for the loan amount. It does not protect the buyer’s equity. When issued together with an owner’s policy, the loan policy is charged at 30% of the loan rate up to the owner’s policy amount. See what title insurance costs.
M
Mansion tax
A New York State tax of 1% of the full price on residential sales of $1 million or more, paid by the buyer (Tax Law § 1402-a). In NYC, residential sales of $2 million or more also owe the supplemental mansion tax, from 0.25% to 2.9% depending on price (Tax Law § 1402-b). See NYC and NYS transfer tax.
Mechanic’s lien
A lien a contractor or supplier files with the County Clerk for unpaid work or materials, within eight months after the last work, or four months for a single-family dwelling (Lien Law § 10). It attaches to the property and lasts one year unless extended or enforced.
Mortgage
The document by which a borrower pledges real property as security for a loan. It is recorded and remains a lien until a satisfaction is recorded.
Mortgage recording tax (MRT)
A tax due when a mortgage is recorded. The gross rate is 2.05%, 2.175% or 2.80% of the loan in NYC, 1.30% in most of Westchester and 1.80% in Yonkers; on most residential loans the lender pays 0.25% and the borrower the rest. See mortgage recording tax in NYC and Westchester.
Municipal search
A search of local building, CO, fire, street and similar records, ordered by the title company: DOB, HPD and OATH/ECB records in NYC, and letters from each city, town or village in Westchester. The results are for information only and are not insured. See Westchester municipal searches and municipal searches for commercial property.
N
Not same person affidavit
An affidavit stating that a buyer or seller is not the person named in a judgment or lien with a similar name. Underwriters set what proof they accept.
O
OEPP (Owner’s Extended Protection Policy)
A TIRSA owner’s policy with broader coverage than the standard form, available for residential property insured to an individual or a qualifying living trust. It costs 120% of the owner’s rate.
Owner’s policy
A title policy that protects the buyer’s ownership, written for at least the purchase price, for a one-time premium paid at closing. It insures title as of the Date of Policy, subject to the exceptions in Schedule B. See what title insurance is.
P
Pick-up fee
The closer’s charge for taking the seller’s mortgage payoff to the lender. It is customary, not set by the rate manual, and usually a seller cost.
PREP (Westchester)
The Westchester County Clerk’s Property Records Electronic Portal. Recording cover pages and, for deeds, the TP-584 and RP-5217 forms must be generated in PREP. See recording a deed or mortgage in Westchester.
R
Referee’s deed
The deed a court-appointed referee gives the winning bidder at a foreclosure sale. It binds only the parties properly named in the case and those who took interests after the notice of pendency. See liens that survive a foreclosure sale.
RP-5217
The New York State real property transfer report filed with every deed, with a fee of $125 for qualifying residential property and $250 for other property (DTF). NYC uses the RP-5217NYC version; in Westchester it is prepared in PREP.
RPTT (NYC)
The NYC Real Property Transfer Tax on deeds and certain transfers of controlling interests. On one- to three-family homes and condo and co-op units it is 1% of the full price at $500,000 or less and 1.425% above that; most other property pays 1.425% or 2.625% (DOF). The seller normally pays, and the NYC-RPT return is filed within 30 days even when no tax is due.
S
Satisfaction of mortgage
A recorded document confirming a mortgage has been paid and discharging it from the record. If a paid mortgage was never satisfied, it stays on the title report as open. See clearing an old or unsatisfied mortgage.
Section 255 affidavit
The sworn statement filed at recording to claim the mortgage recording tax exemption for debt already taxed under an earlier recorded mortgage, typically in a CEMA (Tax Law § 255).
State tax warrant
A New York State tax debt filed as a lien. Since July 1, 2025, warrants are filed with the Department of State and are a lien on the debtor’s real property anywhere in the state; older warrants were docketed with county clerks.
Survey, survey reading and survey inspection
A survey shows boundaries, buildings and encroachments. The title company’s survey reading turns what it shows into specific exceptions, replacing the general exception for whatever an accurate survey would reveal. Without a survey or a survey inspection (an update of an older survey, for residential property), the general exception stays.
T
Tax lien sale (NYC)
The City’s sale of unpaid property taxes, water and sewer charges and certain HPD charges to a lien holder, who can then collect with surcharges and foreclose. A sold lien is paid off to the holder, not DOF. The Mayor said there would be no 2026 sale. See checking NYC violations before contract.
Tenancy by the entirety
The form of ownership New York presumes when a couple who are married at the time take title together (EPTL 6-2.2). When one spouse dies, the survivor owns the whole property automatically, without probate. See removing a deceased spouse from a deed.
TIRSA
The Title Insurance Rate Service Association, which files the rate manual most New York title insurers use, approved by the Department of Financial Services (DFS). Premiums and endorsement charges come from that manual and cannot be discounted except through an approved deviation. See TIRSA refinance rates.
Title bill
The itemized statement of title charges at closing: premiums, endorsements, ancillary fees, taxes and recording fees, and closer charges. See the title bill explained.
Title company
In New York, usually a title agency licensed by DFS as an agent of one or more title insurers. It searches the property, issues the title report, clears exceptions and issues the policy (Insurance Law § 2101(y)). The insurer, or underwriter, carries the risk. Attorneys, not the title company, run a New York residential closing. See what a title company does.
Title insurance
Insurance that protects an owner or lender against loss from defects in title, liens and encumbrances that exist as of the Date of Policy, subject to the policy’s exceptions and exclusions (Insurance Law § 6401(b)). Unlike most insurance, it covers past events, not future ones. See what title insurance is.
Title report (commitment)
The title company’s report of what its search found and what the policy will require (Schedule B requirements) and except (Schedule B exceptions). In New York it serves as the commitment to insure, so the terms are used interchangeably. See title search and title report.
TP-584
The New York State transfer tax return, signed by both parties and filed before a deed can be recorded (the TP-584-NYC in ACRIS; the TP-584 in PREP in Westchester). The state transfer tax is $2 per $500 of price (0.4%), paid by the seller, rising to 0.65% on NYC sales of $3 million or more for residential and $2 million or more for other property (Tax Law § 1402).
Transfer on death deed
A deed, available since July 19, 2024, that names who will receive the property when the owner dies, without probate. It must be recorded before the owner’s death and can be revoked by a later recorded instrument (Real Property Law § 424). See transfer on death and quitclaim deeds.
W
Westchester city transfer taxes
Local deed taxes in three cities, on top of the state tax: Yonkers at 1.5%, Mount Vernon at 1.5% of the price above $50,000, and Peekskill at 1%. The County Clerk will not record the deed without the city’s stamped receipt. See Yonkers, Mount Vernon and Peekskill transfer taxes.
Z
Zone 2
The TIRSA rate zone that includes all five boroughs and Westchester, among other counties. Its premium includes the title and tax search for one tax lot plus one continuation and one tax continuation.
Official sources
- NY Insurance Law § 6401 (definition of title insurance policy)
- NY Insurance Law § 2101(y) (title insurance agent)
- 11 NYCRR § 35.1 (title insurance closer)
- NY Real Property Law § 258 (statutory deed forms)
- NY Real Property Law § 291 (recording of conveyances)
- NY Real Property Law §§ 339-z and 339-aa (condominium common charge lien)
- NY Real Property Law § 424 (transfer on death deed)
- CPLR 5203 (judgment liens), CPLR 6501 and CPLR 6513 (notice of pendency)
- Lien Law § 10 (mechanic’s liens), § 22 (building loan contracts) and § 240 (federal liens)
- NY Tax Law § 1402, § 1402-a and § 1402-b (transfer and mansion taxes)
- NY Tax Law § 255 (supplemental mortgages)
- NY UCC § 9-501 (filing office for cooperative interests)
- NYC Department of Finance, Real Property Transfer Tax
- NYC Department of Finance, UCC financing statements
- NYS Department of Taxation and Finance, transfer reporting (RP-5217)
- Freddie Mac, uniform security instruments (Form 3033, New York Mortgage)
- NYSBA Westchester County residential practice survey