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Madison Abstract
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Madison Toolbox
670 White Plains Road
Scarsdale, NY 10583

Tel: (914) 725-7200
Fax: (914) 725-7724
info@madisonabstract.com
February 06, 2012
Online tools at MadisonAbstract.com give you access to downloadable forms, links to industry resources, financial calculators, and more. Madison Direct Customers can access title reports online. Want to create a Madison Direct account? Begin by completing the Registration Form.
Madison Toolbox
Title Online - Madison Direct Members, access your title reports online, anytime, from anywhere with an internet connection. Order title reports from our website. All you need is your username and password. Not a Madison Direct customer? Register today.
Forms Online - Download industry forms and documents in Adobe Acrobat Reader (.PDF) format. You will need Adobe Acrobat Reader to view and edit forms.
Calculators - Our built-in mortgage calculator produces complete payment and tax information, including calculation details and amortization schedule.
Helpful Links - Find links to industry resources and online services including governmental, legal, and real estate sites.
Madison Abstractions
Top Deals
$2.5M purchase of a Bronx apartment building

$2.0M purchase of a manhattan condo

$1.8M purchase of a Nassau residence
Tip of the Month
A religious corporation cannot sell, mortgage or lease for a term exceeding five years, any of its real property without applying for and obtaining leave of the Court. A court order is also necessary for mortgages with terms less than five years. Religious entities are subject to the same Not-for-Profit laws as not-for-profit corporations so in addition to court approval, the consent of two-thirds of the directors to the sale must be obtained. Strict compliance with the order approving the transaction is required, so if there is an amendment to the terms of the mortgage, the court order must also be amended. Since not-for-profit corporations are exempt from paying a transfer tax, the purchasers of said properties may have to pay the transfer tax by default.