20 CRR-NY 646.4NY-CRR
20 CRR-NY 646.4
20 CRR-NY 646.4
646.4 Annual statement.
Tax Law, ยง 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.
20 CRR-NY 646.4
Current through September 30, 2022
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IMPORTANT NOTE REGARDING CONTENT CURRENCY: The "Current through" date indicated immediately above is the date of the most recently produced official NYCRR supplement covering this rule section. For later updates to this section, if any, please: consult editions of the NYS Register published after this date; or contact the NYS Department of State Division of Administrative Rules at [email protected]. See Help for additional information on the currency of this unofficial version of NYS Rules.