A mortgage is a conveyance of title to property that is given as security for a loan until the grantor (borrower) repays the lender according to terms defined in an attached promissory note. It contains a lien against the security property that ends when the debt is repaid.

Use this form for financing real property- residential, rental units, condominiums, vacant land, small commercial and planned unit developments.

Mortgage covenants

Transfer of Rights in the Property. The Mortgagor hereby mortgages to the Mortgagee the Property described in this Mortgage. Mortgagor can lose the Property for failure to keep the promises in this Mortgage.

Applicable Law. Mortgagee shall have all the rights set forth in Section 254 of the New York Real Property Law in addition to Mortgagee's rights set forth in this Mortgage, even if the rights are different from each other.

Non-Judicial Foreclosure. Mortgagee shall have the power of sale under Article 14 of the Real Property Actions and Proceedings Law, as it may be amended from time to time, and under any successor statute or statute of similar impo1t and effect which may subsequently be enacted providing for non-judicial sale of the Property, subject to the requirements and restrictions applicable to such statutory process.

Promissory Note

A promissory note is a negotiable instrument that contains an unconditional written promise, signed by the borrower, to repay the lender or its designated agent. The promissory note also defines the amount and specific terms of the loan between borrower (maker) and lender (payee/holder).
The promissory note is not recorded on its own. Instead, it is presented for recording along with its related deed of trust or mortgage.
A mortgage that includes a power of sale clause and a promissory note that includes stringent default terms can be beneficial to the lender

(New York Mortgage Package includes forms, guidelines, and completed examples) For use in New York only.

How to Use This Form

Select your county from the list above
Download the county-specific form
Fill in the required information
Have the document notarized if required
Record with your county recorder's office

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Common Uses for Mortgage and Promissory Note

Release a lien after a debt has been paid in full
Clear title after paying off a home equity line of credit
Record a satisfaction of mortgage with the county
Release collateral after a commercial loan is paid off
Secure a loan with real property as collateral
Subordinate a second mortgage to allow refinancing

Compare other New York deed forms and documents

Quitclaim Deed Gift Deed Warranty Deed Special Warranty Deed Bargain and Sale Deed with Covenants Bargain and Sale Deed Without Covenants Easement Deed Termination of Easement Executor Deed Administrator Deed Correction Deed Contract for Deed Memorandum of Contract for Deed Full Release of Memorandum of Contract for Deed Satisfaction of Mortgage Transfer on Death Deed Revocation of Transfer on Death Deed Disclaimer of Interest Memorandum of Trust Notice of Pendency

Important: County-Specific Forms

Our mortgage and promissory note forms are specifically formatted for each county in New York.

After selecting your county, you'll receive forms that meet all local recording requirements, ensuring your documents will be accepted without delays or rejection fees.

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