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How long before purchase recorded on ACRIS?

Started by JWL2672
over 13 years ago
Posts: 138
Member since: Mar 2012
Discussion about
We closed on our apt on 6/20 but city records still show ownership by the seller. How long does it usually take to get recorded? The apt we bought had numerous liens on them and we want to make sure that they're all removed.
Response by Consigliere
over 13 years ago
Posts: 390
Member since: Jul 2011

Is it a Coop or Condo? Depends on the title company/attorney?

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Response by JWL2672
over 13 years ago
Posts: 138
Member since: Mar 2012

Condo. (That actually matters?) Attorney says 4-8 weeks but I'm finding that hard to believe. Isn't the recording company supposed to do it the day after?

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Response by gcondo
over 13 years ago
Posts: 1111
Member since: Feb 2009

I always pictured a prototypical city worker sitting at a desk with a big stack of paper, and a very sub-par typing capability and work ethic (redundant statements - see prototypical city worker). So yeah, it may take a while.

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Response by urbandigs
over 13 years ago
Posts: 3629
Member since: Jan 2006

anywhere from 2 weeks to 4-6 months. Trust me. Im a bit nutz when it comes to data and I discussed the ACRIS sales lag and why quarterly reports are a reflection of the market 4-6 months ago on UrbanDigs many times.

http://www.urbandigs.com/2011/03/a_glimpse_into_the_acris_close.html

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Response by NWT
over 13 years ago
Posts: 6643
Member since: Sep 2008

Since there's tax revenue involved, the city applies a penalty if the deed and tax forms aren't recorded within some amount of time after the document date. I don't know who pays the penalty.

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Response by JWL2672
over 13 years ago
Posts: 138
Member since: Mar 2012

Uggh, it would be nice to get confirmation that the sale went through aside from the first mortgage due statement from the bank. For all we know, we could be illegally occupying the apt.

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Response by Consigliere
over 13 years ago
Posts: 390
Member since: Jul 2011

Classic double dealer comes to mind.

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