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A deed conveying real property, which, by any other written instrument, appears to be intended only as a security in the nature of a mortgage, although an absolute conveyance in terms, must be considered a mortgage; and the person for whose benefit such deed is made, derives no advantage from the recording thereof, unless every writing, operating as a defeasance of the same, or explanatory of its being desired to have the effect only of a mortgage, or conditional deed, is also recorded therewith, and at the same time.
Cite this article: FindLaw.com - New York Consolidated Laws, Real Property Law - RPP § 320. Certain deeds deemed mortgages - last updated January 01, 2021 | https://codes.findlaw.com/ny/real-property-law/rpp-sect-320.html
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