§ 155 — Discharge and cancellation of mortgages by the state

New York § 155

• Jurisdiction: New York
• Law STF: State Finance
• Art. 10: Mortgages

Text

§ 155. Discharge and cancellation of mortgages by the state. The\ntreasurer's receipt, countersigned by the comptroller, setting forth\nthat the whole sum secured by the mortgage held by the state has been\npaid, shall be a sufficient discharge of the mortgage, and the officer\nin whose office such mortgage is recorded shall record such receipt as a\nsatisfaction of the mortgage and satisfy the mortgage of record. When\nany part or subdivision of any lot mortgaged to or purchased from the\nstate, for which a separate account has been opened, is paid, the\ncomptroller shall execute a discharge of such part or subdivision from\nsuch mortgage.\n If a map and survey of the whole lot is filed with the comptroller\nshowing particularly a part or subdivision for which no separate account\nhas been opened, and the owner thereof pays into the treasury its full\nproportion of principal and interest unpaid, and satisfactory proof is\nfurnished the comptroller that the residue of the lot is sufficient\nsecurity for the sum remaining unpaid, he may execute a like discharge\nof such part or subdivision.\n The comptroller may cancel and discharge any mortgage, on satisfactory\nproof that the moneys loaned and secured by such mortgage have been\nfully paid to the officers authorized by law to receive the same if the\nmortgage remains uncancelled and undischarged of record.\n