L&J-1

FEDERAL TAX LIENS

• A notice of Federal Tax Lien based on an assessment made, on or before November 6, 1990 may be disregarded upon the execution and delivery of a deed,lease or mortgagor affecting the property of the taxpayer to a Purchaser (as defined in Section 6323 of the Internal Revenue Code) or a Mortgagee after six (6) years and thirty (30) days have elapsed from the date of assessment set forth in the notice of Federal Tax Lien, unless the notice of Federal Tax Lien was refiled prior to the expiration of the six (6) year and thirty (30)day period. If the notice of Federal Tax Lien was refiled with the six (6)year and thirty (30) day period from the date of assessment, the notice of Federal Tax Lien may be disregarded after ten (10) years and thirty (30) days have elapsed from the date of assessment set forth in the notice of Federal Tax Lien unless the notice of Federal Tax Lien was further refiled.
• Federal Tax liens against one of the parties holding title as tenants by the entirety may be passed when title passes from the other tenant as a survivor following the death of his or her spouse. The lien will not be passed when both tenants by the entirety are alive.

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L&J-2

FEDERAL TAX LIENS FILED BETWEEN DATE OF MORTGAGE AND RECORDING

Where between the time of a bona fide closing and the time of recording of the insured mortgage, a Federal Tax Lien is filed against a mortgagor, the Federal Tax Lien will be passed upon proof establishing the actual closing date and, if there is a delay between the date of the mortgage or mortgages and the recording thereof, the reason for the delay in recordation.

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L&J-3

JUDGMENTS AGAINST PARTNERS

• .Where title is in a limited partnership or limited liability partnership duly formed, which is about to convey or mortgage property, judgment searches need not be run against general or limited partners and judgment liens against them may be disregarded.

• When title is taken in the trade name of a general partnership in accordance with its named designation in the certificate of partnership which is properly filed, judgment searches need not be run against general or limited partners and judgment liens against them may be disregarded.

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L&J-4

JUDGMENTS ENTERED BETWEEN DATE OF DEED OR MORTGAGE AND RECORDING

Where between the time of a bona fide closing and the time of recording instruments, a judgment is docketed against a grantor or mortgagor, the judgment will be passed upon proof establishing the actual closing date and, if there is a delay between the date of the deed(s) or mortgage(s) and the recording thereof, the reason for the delay in recordation.

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L&J-5

NYC LIENS AND JUDGMENTS DURATION

• Parking Violation Bureau Judgments:
  8 years (N.Y. Vehicle and Traffic Law Section 241 (3))

• Environmental Control Board Judgments:
  8 years (NYC Charter Ch. 57 Section 1404)

• Transit Adjudication Bureau Judgments:
  10 years (N.Y. Public Authority Law Section 1209-A; 1984 N.Y. Laws Ch. 93)

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L&J-6

PRIORITY OF A PURCHASE MONEY MORTGAGE OVER JUDGMENT AGAINST THE MORTGAGOR

Where real property is sold and conveyed, and at the same time a mortgage thereupon is given by the purchaser to secure the payment of the whole or apart of the purchase money, the lien of the mortgage upon the real property is superior to the lien of a previous judgment against a purchase money mortgagor wholly or partly for a sum of money or directing the payment of a sum of money against the purchaser. This may be followed whether the mortgage is made directly to the grantor or to a third party, so long as the mortgage recites that it is a purchase money mortgage.

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L&J-7

SURETY BOND LIENS - WHEN DISREGARDED

A Surety Bond Lien may be disregarded after 10 years from the date of filing provided that such lien was not extended by court order and such extension noted in the record where the Surety Bond Lien is filed.

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