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 650 - Taxes On Instruments Not Recorded
Section 650.2 - Payment of taxes on lost or destroyed unrecorded instruments

Universal Citation: 20 NY Comp Codes Rules and Regs ยง 650.2

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

Tax Law, § 258-a

(a)

(1) Where an unrecorded instrument subject to the taxes described in Part 642 of this Title has been lost or destroyed, the commissioner upon presentation of proper proofs is authorized to make a determination of the taxable amount of such instrument.

(2) The proofs shall include an affidavit made by a party to the instrument or by a person who has knowledge of the facts affirming:
(i) that the unrecorded instrument has been lost or destroyed; and

(ii) the maximum amount of principal debt or obligation secured at the time of execution of such lost or destroyed instrument.

(3) The commissioner reserves the right to request additional information that he deems necessary for the purpose of determining the taxable amount of the unrecorded instrument.

(4) The commissioner shall, after reviewing the affidavit and any additional information that he may have requested, issue a determination fixing the taxable amount of the lost or destroyed unrecorded instrument and fixing the amount of tax due upon such instrument.

(b)

(1) The determination as described in paragraph (a)(4) of this section, issued by the commissioner, may be presented to the recording officer of the county in which the real property or any part thereof affected by the lost or destroyed instrument is located and the tax determined to be due shall be paid to such recording officer.

(2) The recording officer shall:
(i) indorse upon the determination a receipt of the amount of tax so paid; and

(ii) keep a copy of the determination among the mortgage recording tax records maintained by such recording officer.

(c) The filing of the determination shall have the same force and effect, so far as article 11 of the Tax Law is concerned, as if such lost or destroyed instrument had been duly recorded and the taxes paid.

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