The registrar shall keep a book or books to be known respectively as the "title book", wherein he shall enter all first and subsequent "original" certificates of title by binding or recording them therein, with appropriate blanks for the entry of memorials and notations prescribed by this article. Said book shall be of about the size of the conveyance libers, now used in county clerks' and registers' offices. Each certificate shall constitute a separate leaf of such book. About two inches of each leaf on the binding edge shall be kept blank on both sides, to facilitate rebinding. At such times as may be proper, the registrar may rebind the certificates in new volumes or title books, containing respectively cancelled and uncancelled certificates. All memorials and notations, that may be entered in the title book under the terms of this article, shall be entered upon the leaf constituting the last certificate of title of the property to which they relate. In the county of Suffolk, if a microfilm system for retrieval and display of the title certificates is used, libers may be stored in a location not accessible to the public. Whenever the term "certificate of title" is used in this article it shall be deemed as including all memorials or notations thereupon noted.
N.Y. Real Prop. Law § 395