Mississippi Complaint to Compel Mortgagee to Execute and Record Satisfaction and Discharge of Mortgage

State:
Multi-State
Control #:
US-02785BG
Format:
Word; 
Rich Text
Instant download

Description

This form is a generic example that may be referred to when preparing such a form for your particular state. It is for illustrative purposes only. Local laws should be consulted to determine any specific requirements for such a form in a particular jurisdiction.

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FAQ

If Mortgagee fails to satisfy of record, he is liable for damages, including attorney fees, if 20 days written notice is given by Mortgagor prior to suit. Acknowledgment: An assignment or satisfaction must contain a proper New Jersey acknowledgment, or other acknowledgment approved by Statute.

Discharging your mortgage isn't complicated - the steps are as follows: Notify your lender: Reach out to your lender and discuss your plans to release the mortgage with them. ... Complete and return the Discharge Authority form: ... Register your discharge and Certificate of Title:

In order to make public notification that you have paid your mortgage off, you need to bring the ?original? Discharge of Mortgage provided by the bank to the registry of deeds along with either cash or a check in the amount of $105.00. The Registry will record the Discharge and return it to you immediately.

A mortgage discharge is a signed document from the lender indicating that the mortgage contract has been fulfilled. Discharging the mortgage ends the lender's legal claim to your property.

The obsolete mortgage statute is designed to help remove old mortgages from land titles. It sets a term of 35 years from the mortgage recording date if the mortgage has no term or maturity date, or five years from the end of any stated term or maturity date.

Under Massachusetts General Laws, Chapter 183, Section 55, a mortgage servicer, mortgagee, or note holder who is paid in full and receives satisfaction of the mortgage terms is supposed to cause a discharge to be recorded within 45 days of receipt of payment and provide a copy to the settlement agent, closing attorney, ...

Chapter 260, Section 33 deems a mortgage unenforceable either (i) 35 years from the date of recording if no mortgage term is stated, or (ii) 5 years from the expiration of the mortgage term or maturity date stated in the mortgage, provided there has not been a recorded extension of the mortgage in either circumstance.

(a)(1) A mortgagee, mortgage servicer or note holder who receives full payment and satisfaction of the conditions of a mortgage shall, within 45 days of receipt of payment, (i) cause to be recorded a duly executed and acknowledged discharge that conforms with subsection (b) and provide to the closing attorney, ...

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Mississippi Complaint to Compel Mortgagee to Execute and Record Satisfaction and Discharge of Mortgage