Memorandoms

[Adam Glassman]

I saw some post about this but nothing was really answered.  So my questions to my local NYC area attorneys-investors is:

When you don't trust a seller of a property that your are in contract or about to go into contract with I want to start recording memorandoms.  I know what they do but are they all standard to what they say in them and do they 100% have to be notarized by seller-buyer to be recorded, and who records them.  

Second what are the fees involved in them compared to and LP, etc..I want to start doing these on my deals but need to know the facts and costs.  thanks