Notice of Recorded Document (NRD) Monitoring
NYC's notice program is designed to notify subscribers shortly after deeds, mortgages, and certain deed- or mortgage-related documents are recorded against a property, functioning as a fraud-detection and monitoring tool. It leverages recording events rather than preventing recordation.
- Where it applies
- New York City
- When it comes up
- Post-closing monitoring
- Property types
- NYC deeded property
Risk and Liability Terminology
- Closing Protection Letter (CPL)
- Closing Wire Fraud / Business Email Compromise (BEC)
- Deed Fraud
- Directors and Officers (D&O) Insurance
- Errors & Omissions (E&O) Insurance
- Force Majeure
- Indemnification
- Limitation of Liability
- Liquidated Damages
- Recording Gap Risk
General information, not legal, tax or financial advice.