2006 New York Code - Conveyance.

 
    §  1353. Conveyance.  1. After the property has been sold, the officer
  conducting  the  sale  shall  execute  a  deed  to  the  purchaser.  The
  plaintiff, or any other party, may become a purchaser.
    2.  Before  a  deed  is executed to the purchaser, the plaintiff shall
  file the mortgage and any assignment not shown  to  have  been  lost  or
  destroyed  in  the office of the clerk, unless it is in a form which can
  be recorded; in which case it shall be recorded in  the  counties  where
  the  lands  are  situated;  the expense of filing or recording and entry
  shall be allowed in the taxation of costs; and, if filed with the clerk,
  he shall enter in the minutes the time of filing.
    3. The conveyance vests in the purchaser the  same  estate  only  that
  would  have vested in the mortgagee if the equity of redemption had been
  foreclosed. Such a conveyance is as valid as if it were executed by  the
  mortgagor  and  mortgagee,  and,  except as provided in section 1315 and
  subdivision 2 of section 1341, is an entire bar against each of them and
  against each party to the action who was duly summoned and every  person
  claiming  from,  through  or  under  a party by title accruing after the
  filing of the notice of the pendency of the action.