People ex rel. Park Row Realty Co. v. Saxe
Appellate Division of the Supreme Court of the State of New York
Certiorari issued out of the Supreme Court and attested on the 17th day of May, 1916, directed to Martin Saxe and others, as State Tax Commissioners, and the State Tax Commission, commanding them to certify and return to the office of the clerk of the county of Albany all and singular their proceedings had in determining the value of certain property of the relator for the purposes of a mortgage tax.
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Certiorari issued out of the Supreme Court and attested on the 17th day of May, 1916, directed to Martin Saxe and others, as State Tax Commissioners, and the State Tax Commission, commanding them to certify and return to the office of the clerk of the county of Albany all and singular their proceedings had in determining the value of certain property of the relator for the purposes of a mortgage tax. The determination of the Tax Commission made on April 20, 1916, and under review refused to deduct the amount of the prior mortgage from the value of the real estate in fixing the mortgage tax…
1Opinion of the Court
Kellogg, P. J.:
If it had been the intention of the parties to limit the advances to the value of the equity of redemption, they would have filed the statement provided by section 256 of the Tax Law showing such limit. The absence of such statement indicates that the amount to be advanced was not limited to the then value of the equity of redemption.
This mortgage was apparently made to cover the uncertainties of the future and with the idea that financial difficulties might arise, and to protect the parties against all possibilities. It was not apparent when the stringency and trouble in the…
2Cited by2 opinions
- People ex rel. Home Mortgage Investment Co. v. State Board of Tax CommissionersAppellate Division of the Supreme Court of the State of New York · 1918
- Citizens National Bank & Trust Co. v. Tax CommissionAppellate Division of the Supreme Court of the State of New York · 1949