2023 New York Laws › TAX - Tax › Article 11 - Tax on Mortgages › 250 - Definitions.

§  250.  Definitions.  1.  The  term  "real  property" as used in this
article includes the land itself above and under  water,  all  buildings
and  other  articles  and structures, substructures and superstructures,
erected upon, under or above, or affixed to the same;  all  wharves  and
piers,  including the value of the right to collect wharfage, cranage or
dockage thereon; all bridges, all  telegraph  lines,  wires,  poles  and
appurtenances; all supports and inclosures for electrical conductors and
other   appurtenances   upon,   above   and  underground;  all  surface,
underground  or  elevated  railroads,  including  the   value   of   all
franchises,  rights  or permission to construct, maintain or operate the
same in, under, above, on  or  through,  streets,  highways,  or  public
places;  all  railroad  structures,  substructures  and superstructures,
tracks and the iron  thereon;  branches,  switches  and  other  fixtures
permitted  or  authorized  to be made, laid or placed in, upon, above or
under any public or private road, street or ground; all mains, pipes and
tanks laid or placed in, upon, above or  under  any  public  or  private
street  or  place for conducting steam, heat, water, oil, electricity or
any  property,  substance  or  product  capable  of  transportation   or
conveyance  therein or that is protected thereby, including the value of
all franchises, rights, authority or permission to  construct,  maintain
or operate, in, under, above, upon, or through, any streets, highways or
public  places,  any  mains, pipes, tanks, conduits or wires, with their
appurtenances, for conducting water, steam, heat, light, power, gas, oil
or other substance, or electricity or telegraphic, telephonic  or  other
purposes;  all  trees  and  underwood  growing upon land, and all mines,
minerals, quarries and fossils in  and  under  the  same,  except  mines
belonging to the state; and all the forms of housing which are adaptable
to  motivation by a power connected thereto or which may be propelled by
a power within themselves and which are or can be used  as  a  house  or
living  abode  or  habitation  of  one or more persons, or for business,
commercial or office purposes, either temporarily  or  permanently,  and
commonly  called  and  hereafter  referred  to as "trailers"; except (1)
transient trailers which have been located within the  boundaries  of  a
city,  town  or  village for less than sixty days and (2) trailers which
are for sale and which are not occupied. Said terms  shall  not  include
bulk milk tanks or coolers installed upon the farm to hold milk awaiting
shipment   to   market.  "Real  property"  also  includes  everything  a
conveyance or mortgage of which can  be  recorded  as  a  conveyance  or
mortgage of real property under the laws of the state.
2.  (a)  The  term  "mortgage"  as used in this article includes every
mortgage or deed of trust which imposes a lien on or affects  the  title
to  real property, notwithstanding that such property may form a part of
the security for the debt or debts secured  thereby.  An  assignment  of
rents  to  accrue  from  tenancies, subtenancies, leases or subleases of
real property, within any city in the state having a population  of  one
million  or more, given as security for an indebtedness, shall be deemed
a mortgage of real property for  purposes  of  this  article.  Executory
contracts for the sale of real property under which the vendee has or is
entitled  to possession shall be deemed to be mortgages for the purposes
of this article and shall be  taxable  at  the  amount  unpaid  on  such
contracts.  A contract or agreement by which the indebtedness secured by
any mortgage is increased or added to, shall be  deemed  a  mortgage  of
real  property  for the purpose of this article, and shall be taxable as
such upon the amount  of  such  increase  or  addition.  Notwithstanding
anything  in  this  section  or  section  two hundred fifty-five of this
article to the contrary, a contract or agreement whereby the proceeds of
any indebtedness secured by a mortgage of real property in any  city  in
the  state having a population of one million or more are used to reduce

all or any part of a mortgagee's equity  interest  in  a  wraparound  or
similar  mortgage  of  such  real property shall be deemed a mortgage of
real property for the purposes of this article and shall be  taxable  as
such  to  the  extent  of  the  amount of such proceeds so used, without
regard to whether  the  aggregate  amount  of  indebtedness  secured  by
mortgages of such real property is increased or added to.
(b)  Where  all  or  part of the indebtedness secured by a mortgage of
real property within any city in the state having a  population  of  one
million  or more has been paid and new funds are advanced or re-advanced
which are to be secured by such mortgage, the contract or  agreement  by
which  such funds are advanced or re-advanced shall be deemed a mortgage
of real property for purposes of this article, and shall be  taxable  as
such  upon the amount of such new funds, except as otherwise provided in
section two hundred fifty-three-b of this article.
3. The term "tax district" as used in this article  means  a  city  or
town.