There is a newer version of the New York Consolidated Laws
2022
2021
2020
2019
2018
Other previous versions
View our newest version here

2016 New York Laws
GOB - General Obligations
Article 5 - CREATION, DEFINITION AND ENFORCEMENT OF CONTRACTUAL OBLIGATIONS
Title 4 - (5-401 - 5-423) CONTRACTS RELATING TO WAGERING; FORFEITURE AND RECOVERY OF CERTAIN PROPERTY
5-413 - Securities for money lost at gaming, void.

NY Gen Oblig L § 5-413 (2016) What's This?
 5-413. Securities  for  money  lost  at  gaming, void. All things in
  action, judgments, mortgages,  conveyances,  and  every  other  security
  whatsoever,  given  or  executed,  by any person, where the whole or any
  part of the consideration of the same shall be for any  money  or  other
  valuable  thing won by playing at any game whatsoever, or won by betting
  on the hands or sides of such as do play at any game, or where the  same
  shall  be made for the repaying any money knowingly lent or advanced for
  the purpose of such gaming or betting aforesaid, or lent or advanced  at
  the  time  and  place  of  such play, to any person so gaming or betting
  aforesaid, or to any person who during such play,  shall  play  or  bet,
  shall  be  utterly  void,  except  where such securities, conveyances or
  mortgages shall affect any real estate, when the same shall be  void  as
  to the grantee therein, so far only as hereinafter declared.

When  any securities, mortgages or other conveyances, executed for the
  whole or part of any consideration specified in the preceding  paragraph
  shall  affect  any real estate, they shall inure for the sole benefit of
  such person as would be entitled to the said real estate, if the grantor
  or person incumbering the same, had died, immediately upon the execution
  of such instrument, and shall be deemed to be taken and held to and  for
  the  use  of the person who would be so entitled.  All grants, covenants
  and conveyances, for preventing such real  estate  from  coming  to,  or
  devolving  upon,  the  person  hereby  intended  to  enjoy  the  same as
  aforesaid, or in any way incumbering or charging  the  same,  so  as  to
  prevent  such person from enjoying the same fully and entirely, shall be
  deemed fraudulent and void.

Disclaimer: These codes may not be the most recent version. New York may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.