New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1915-02-14
PROPOSED BILLS
WIN ENDORSEMENT
Amendments for Certain
Laws Relating to Realty
Approved.
OTHERS OPPOSED BY
ADVISORY COUNCIL
FavOrS Those on Tenement
House, Commissioner of Deeds
and Mortgage Tax.

The Advisory Council of Real Estate
Interests, through its law and legisla-
tive committee, Walter Lindner, chair
man, Endorses the following bills now
introduced in the State Legislature.
Bill to amend the city charter in re-
lation to Commissioner of Deeds. This
bill seems to clear the mix-up created
by amendments of 1918 and to give a
rule for the appointment and Qualifica-
tions of Commissioner of Deeds which
can be understood. 1t was suggested
that it embody the confirmation Of acts
Of commissioners appointed and quail
flied in the manner provided by these
amendments.
Bill to amend the tenement house
lsw with regard to heights of buildings
b. providing that the width OF the
street measuring permissible height be
deemed to include any open space or
Tark abuttilg on street in front of lot.
This bill corrects inequalities which
exist, in that there are streets over one
hundred feet in width not fronting on
public parks, whereas there are streets
fronting on parks which. exclusive OF
park space, are only one hundred feet
in width. On these last streets the
height to which tenement houses may
be constructed is limited to one and
one-half times the width of the street,
exclusive of the park, whereas hi0her
buildings may be constructed on other
streets with no open space in front Of
them. An example is this: On Park
Avenue, l40 feet wide, apartments may
be erected 2l0 feet high. whereas on
Fifth Avenue opposite Central Park, or
on Central Park West, the height limit
will be l50 feet. This inequality should
be corrected.
Bill to amend tax law with relation
to refunds on mortgage tax. This bill
provides that whenever, through mad
vertence or otherwise, mortgage tax
has been paid on q mortgage on which
no advance was ever made, the tax
shall be deemed TO have been errone-
ously collected, and shall be refunded
on verified application within ninety
days after discharge Of the mortgage.
This bill should be favored because,
II no advance was ever made on q
mortgage on which tax was paid, the
object of taxation never existed, and
the refund is, therefore, proper.
This council opposes the following
bills:
Bill to amend the real property law
so as TO provide that there shall be no
personal liability on bonds accompany
ing mortgages, except for the cost OF
| the action and expenses Of the sale.
Doubts are raised whether the last
sentence of the amendments to Section
/ 2i9 page Of the bill, lines to 81
which seeks to make void covenants 70
repay money borrowed, would be en-
forcable. II this sentence is not en-
| forceable there is nothing TO stop Dor
| rowers from waving the protection of
| the statute. In every state in the
! Union there is a personal liability with
1 such loans, and no good reason is
/ shown why there should be difference
/ in this state. There are advantages
| to the borrower in being able TO make
himself personally liable in that he
may often get a better loan than is
! obtainable on the mere security Of the
property offered.
Bill TO amend the stock corporation
law by making applicable 10 foreign
| corporations the requirements as 20
/ consent of stockholders now applying
/ 10 domestic corporations in cases where
/ the company mortgages its property.
! The provisions of the law sought 70
/ be made applicable are intended to pro-
tect the minority stockholders Of do
nestle corporations. 1t is the business
Of the state chartering the corporation
to make provisions Of this character,
and in no sense can this legislation
obviate the necessity OF complying with
the requirements of the state in which
the corporation is chartered, but would
only impose an unnecessary additional
technical requirement.
Bill 10 add new section TO the real
property law constituting instruments