People ex rel. The Williamsburgh Savings Bank v. State Tax Commission

This case does not differ materially in principle from that of People ex rel. N. Y. T. & M. Co. v. State Tax Comm. (220 App. Div. 396), although there is a difference in the facts.

On May 19, 1911, the Masief-Building Construction Company, then the owner, executed and delivered to the New York Mortgage and Security Company a mortgage to secure the payment of $140,000 on premises situated in the borough of Brooklyn. This mortgage was recorded the following day in the Bangs county register’s office, and the full amount of the mortgage tax was paid. The mortgage contained this provision: “ It is…