Where is the New York mortgage recording tax typically paid and recorded?
Correct Answer
B) County clerk's office where the property is located
New York mortgage recording tax is paid and the mortgage is recorded at the county clerk's office in the county where the mortgaged property is located. This is where all real property mortgage recordings take place in New York.
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Related Topics & Key Terms
Key Terms:
Related Concepts
A trustee sale is a type of foreclosure where a trustee, appointed under a deed of trust, sells the property at auction to satisfy the debt.
Usury is the practice of charging an interest rate that exceeds the maximum rate permitted by state law. Usury laws protect borrowers from excessive interest charges on loans.
A VA loan is a mortgage guaranteed by the Department of Veterans Affairs available to eligible veterans, active-duty service members, and surviving spouses. It offers no down payment and no private mortgage insurance requirements.
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