Section 265. Tax a lien; exceptions

The tax in this article imposed shall
  be  deemed  and  is  hereby declared to be a lien upon the mortgage upon
  which such tax is imposed  and  upon  the  debt  or  obligation  secured
  thereby,  except  that  upon  mortgages  recorded  prior  to July first,
  nineteen hundred six, such  lien  shall  extend  only  to  that  portion
  thereof represented by the amount advanced subsequently to such date and
  to  the  debt  or  obligation  secured  by such advancement, and for the
  purpose of enforcing the payment of the tax  in  this  article  imposed,
  such  mortgage  and  the  debt  thereby  secured  shall  be deemed to be
  property within this state notwithstanding that  such  mortgage  may  be
  owned  by or be in the possession of a person or corporation outside the
  state and a copy thereof duly certified by the recording officer of  any
  county  in  which  such  mortgage  is recorded shall, for the purpose of
  enforcing the payment of such tax, be deemed to be, and shall  have  the
  same  force  and  effect  as  the  original  mortgage and may be sold to
  satisfy such tax and upon a sale of the whole or any part thereof, shall
  carry with it and transfer to the purchaser all  the  rights,  interests
  and  obligations  of  the  mortgagee  therein  named  or his assignee or
  successor in interest in and to  such  mortgage  and  the  debt  secured
  thereby,  or the part thereof to which such lien attaches, together with
  interest and costs.  The lien of the tax resulting from a deed of  trust
  or  a  deed  absolute  on  its  face  which  is  security  for a debt or
  obligation shall cease ten years after the recording  thereof,  provided
  such a mortgage is in the hands of a bona fide purchaser for value.