AR HB1053

Amends Arkansas Code § 14-15-402(a) to clarify that recorders must record mortgage releases along with other instruments concerning real property.

Amends Arkansas Code § 18-40-101 to require that mortgage assignments and mortgage releases be proven or acknowledged in the same manner as deeds for real estate conveyance before recording in the appropriate counties.

Adds new Arkansas Code § 18-40-111 establishing that the party recorded as the mortgage holder has a duty to provide a document for recording that evidences satisfaction of a mortgage, which may be signed and acknowledged by the mortgage holder, recorded servicer, or an agent for the mortgage holder.

Amends Arkansas Code § 21-6-306(a)(1)(A) to include mortgage assignments in the list of recordable instruments subject to uniform recorder fees of fifteen dollars ($15.00) for one page and five dollars ($5.00) for each additional page.