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Chattel Mortgage on Mobile Home

Chattel Mortgage Form With 2 Points In Suffolk

Category:

Loans and Lending - Chattel Mortgages

State:

Multi-State

County:

Suffolk

Control #:

US-0007BG

Format:

Instant download

Description

A chattel mortgage is a term used to describe a loan arrangement in which an item of movable personal property is used as security for the loan.

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FAQ

The traditional mortgage is only for stationary property. It's suited for long-term real estate investments. Chattel loans are for property that can be easily moved. They're also an option for borrowers who want their loans approved faster and with shorter repayment times.

The Record & Return To box (number 6) on the Suffolk County Recording and Endorsement Form must be properly completed for the timely return of your recorded mortgage. NOTE: Must be printed on legal size (8 1/2 x 14) paper. Mortgage Tax is computed by a formula based on 1.05% of the amount of the mortgage.

Deeds should be recorded in the Office of the County Clerk of the county in which the real property being transferred is located. When recording a deed, it is your responsibility to take the proper steps to ensure that the document meets the legal requirements for recording.

The typical Suffolk County homeowner pays $10,000 annually in property taxes. That is due, in part, to high home values, as the median value in the county is $413,900. Even so, the average effective property tax rate in Suffolk County is 2.42%, far above both state and national averages.

Transfer Tax is due on all conveyances with consideration greater than $500.00. The amount of tax is computed at $2.00 per $500.00, or any fraction thereof. (Example: $750.00; Consideration = $4.00 tax.) Mansion Tax is due on all residential conveyances where the consideration is $1,000,000.00 or greater.

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Note: This form must be downloaded to your device in order to be filled out properly. STEP 1: Get Pre-qualified with a SONYMA Participating Mortgage Lender.It is not uncommon for the quarter point, and who pays it, to become a point of discussion during certain mortgage loan transactions in NY. We offer a range of home loans with various rate options and terms to meet your needs. Our mortgage experts will determine how much you qualify to borrow. This form is for general instructions that apply to all corporation tax forms. It includes a variety of topics about how to fill out your form. Click a blank form field and type. 3. If you select Box D), fill in the information requested in Items 1 and 2. Leave Item 3 blank for the court to fill in, and go on to Paragraph ELEVENTH.

Chattel Mortgage Form With 2 Points In Suffolk

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FAQ

What is the difference between a package mortgage and a chattel mortgage?

What is the mortgage tax in Suffolk County, NY?

How do I record a deed in NY?

What is the property tax in Long Island Suffolk County?

How much is mortgage recording tax in Suffolk County, NY?

What is the transfer tax in Suffolk County NY?

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