New York Codes, Rules and Regulations
Title 20 - DEPARTMENT OF TAXATION AND FINANCE
Chapter IV - Sales And Use And Other Miscellaneous Taxes
Subchapter D - Mortgage Recording Taxes
Part 646 - Trust Mortgages
Section 646.4 - Annual statement

Universal Citation: 20 NY Comp Codes Rules and Regs ยง 646.4

Current through Register Vol. 46, No. 12, March 20, 2024

Tax Law, § 259

(a) The mortgagor or the owner of the property which secures the mortgage debt is required to file within 30 days after July 1st of each year an annual statement with the recording officer of the county where the mortgage is first recorded and with the commissioner.

(b) The statement shall be filed annually until it appears therefrom that the maximum amount secured by the trust mortgage has been advanced and the taxes thereon have been paid.

(c) The statement, verified by the secretary, treasurer or other proper officer of the mortgagee, shall contain the following information:

(1) the names of the mortgagor and the mortgagee;

(2) the date of the mortgage and the county where first recorded;

(3) the maximum amount of principal debt or obligation which under any contingency may be secured by such mortgage; and

(4) the amounts advanced on such mortgage during the year ending the preceeding June 30th, with the date and amount of each such advance.

(d) Recording officers are required to check the annual statements filed with them against their records to determine whether all taxes due upon advances reported therein have been paid.

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