Affidavit Under Section 255 Tax Law (Wraparound Mortgage) | Pdf Fpdf Docx | New York

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Affidavit Under Section 255 Tax Law (Wraparound Mortgage) | Pdf Fpdf Docx | New York

Last updated: 1/26/2024

Affidavit Under Section 255 Tax Law (Wraparound Mortgage)

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Description

255 AFFIDAVIT FOR WRAP-AROUND MORTGAGE. This form is used to declare, under oath, details related to a wrap-around mortgage. The affiant, who claims to be the owner and holder of the mortgage, provides information about the original mortgage and the existing wrap-around mortgage. The affidavit mentions the principal amounts, dates, and recording details of both mortgages. It asserts that the wrap-around mortgage is tendered for recording with the payment of mortgage tax and emphasizes that it does not create any new indebtedness or obligation beyond the principal of the advance. The affiant requests exemption from taxation on the prior mortgage in accordance with Section 255 of Article 11 of the Tax Law of the State of New York. The document is notarized for legal validity. www.FormsWorkflow.com

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