(1) A financing statement or continuation statement filed prior to the effective date of Revised Article 9 which shall not have lapsed prior to the effective date of Revised Article 9 shall remain effective for the period provided in Original Article 9, but not less than five years after the filing.
Terms Used In N.Y. Uniform Commercial Code 11-105
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
(2) With respect to any collateral acquired by the debtor subsequent to the effective date of Revised Article 9, any effective financing statement or continuation statement described in this section shall apply only if the filing or filings are in the office or offices that would be appropriate to perfect the security interests in the new collateral under Revised Article 9.
(3) The effectiveness of any financing statement or continuation statement filed prior to the effective date of Revised Article 9 may be continued by a continuation statement as permitted by Revised Article 9, except that if Revised Article 9 requires a filing in an office where there was no previous financing statement, a new financing statement conforming to Section 11-106 shall be filed in that office.
(4) If the record of a mortgage of real estate would have been effective as a fixture filing of goods described therein if Revised Article 9 had been in effect on the date of recording the mortgage, the mortgage shall be deemed effective as a fixture filing as to such goods under subsection (6) of Section 9-402 of Revised Article 9 on the effective date of Revised Article 9.