State Codes and Statutes

Statutes > New-york > Rel > Article-6 > 63

§  63. Recordation  of  mortgages; effect thereof. In case of conflict  between this section and article nine of the  uniform  commercial  code,  the  provisions  of  this  section  shall control. Any mortgage, deed of  trust  or  other  instrument  executed  by  a  cooperative  or   foreign  corporation doing business in this state pursuant to this chapter, which  affects  real  and  personal  property and which is recorded in the real  property records in any county in which such property is located  or  is  to  be  located, shall have the same force and effect as if the security  interest created by such  mortgage  in  the  personal  property  thereby  affected, had been perfected by filing in accordance with section 9--501  of  the  uniform  commercial  code.  All after-acquired property of such  cooperative or foreign corporation described or  referred  to  as  being  mortgaged  or  pledged  in  any  such  mortgage,  deed of trust or other  instrument, shall become subject to the lien  thereof  immediately  upon  the  acquisition  of  such  property  by  such  cooperative  or  foreign  corporation, whether or not such property was in existence at  the  time  of  the  execution  of such mortgage, deed of trust or other instrument.  Recordation of any such mortgage, deed  of  trust  or  other  instrument  shall  constitute notice and otherwise have the same effect with respect  to such after-acquired property as it has under  the  laws  relating  to  recordation,  with  respect  to  property  owned  by such cooperative or  foreign corporation at the time of the execution of such mortgage,  deed  of  trust  or  other  instrument and therein described or referred to as  being mortgaged or pledged thereby.    The security  interest  in  personal  property  created  by  any  such  mortgage,  deed  of  trust  or other instrument shall, after recordation  thereof, continue perfected and of record  without  the  filing  of  any  continuation  statement  as  required  by  section 9--515 of the uniform  commercial code.

State Codes and Statutes

Statutes > New-york > Rel > Article-6 > 63

§  63. Recordation  of  mortgages; effect thereof. In case of conflict  between this section and article nine of the  uniform  commercial  code,  the  provisions  of  this  section  shall control. Any mortgage, deed of  trust  or  other  instrument  executed  by  a  cooperative  or   foreign  corporation doing business in this state pursuant to this chapter, which  affects  real  and  personal  property and which is recorded in the real  property records in any county in which such property is located  or  is  to  be  located, shall have the same force and effect as if the security  interest created by such  mortgage  in  the  personal  property  thereby  affected, had been perfected by filing in accordance with section 9--501  of  the  uniform  commercial  code.  All after-acquired property of such  cooperative or foreign corporation described or  referred  to  as  being  mortgaged  or  pledged  in  any  such  mortgage,  deed of trust or other  instrument, shall become subject to the lien  thereof  immediately  upon  the  acquisition  of  such  property  by  such  cooperative  or  foreign  corporation, whether or not such property was in existence at  the  time  of  the  execution  of such mortgage, deed of trust or other instrument.  Recordation of any such mortgage, deed  of  trust  or  other  instrument  shall  constitute notice and otherwise have the same effect with respect  to such after-acquired property as it has under  the  laws  relating  to  recordation,  with  respect  to  property  owned  by such cooperative or  foreign corporation at the time of the execution of such mortgage,  deed  of  trust  or  other  instrument and therein described or referred to as  being mortgaged or pledged thereby.    The security  interest  in  personal  property  created  by  any  such  mortgage,  deed  of  trust  or other instrument shall, after recordation  thereof, continue perfected and of record  without  the  filing  of  any  continuation  statement  as  required  by  section 9--515 of the uniform  commercial code.

State Codes and Statutes

State Codes and Statutes

Statutes > New-york > Rel > Article-6 > 63

§  63. Recordation  of  mortgages; effect thereof. In case of conflict  between this section and article nine of the  uniform  commercial  code,  the  provisions  of  this  section  shall control. Any mortgage, deed of  trust  or  other  instrument  executed  by  a  cooperative  or   foreign  corporation doing business in this state pursuant to this chapter, which  affects  real  and  personal  property and which is recorded in the real  property records in any county in which such property is located  or  is  to  be  located, shall have the same force and effect as if the security  interest created by such  mortgage  in  the  personal  property  thereby  affected, had been perfected by filing in accordance with section 9--501  of  the  uniform  commercial  code.  All after-acquired property of such  cooperative or foreign corporation described or  referred  to  as  being  mortgaged  or  pledged  in  any  such  mortgage,  deed of trust or other  instrument, shall become subject to the lien  thereof  immediately  upon  the  acquisition  of  such  property  by  such  cooperative  or  foreign  corporation, whether or not such property was in existence at  the  time  of  the  execution  of such mortgage, deed of trust or other instrument.  Recordation of any such mortgage, deed  of  trust  or  other  instrument  shall  constitute notice and otherwise have the same effect with respect  to such after-acquired property as it has under  the  laws  relating  to  recordation,  with  respect  to  property  owned  by such cooperative or  foreign corporation at the time of the execution of such mortgage,  deed  of  trust  or  other  instrument and therein described or referred to as  being mortgaged or pledged thereby.    The security  interest  in  personal  property  created  by  any  such  mortgage,  deed  of  trust  or other instrument shall, after recordation  thereof, continue perfected and of record  without  the  filing  of  any  continuation  statement  as  required  by  section 9--515 of the uniform  commercial code.