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CT HB06369
Bill
Status
2/3/2021
Primary Sponsor
Banking Committee
Click for details
AI Summary
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Mortgagees must execute and deliver mortgage releases directly to the town clerk upon full or partial satisfaction of the mortgage, effective October 1, 2021
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Mortgagees must also provide a copy of the release to the mortgagor
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Mortgagees are required to accept bank checks, certified checks, attorney's clients' funds account checks, title insurance company checks, wire transfers, or any other federally authorized payment form for mortgage satisfaction
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Amends Section 49-8(a) of the general statutes and creates a new section governing acceptable payment methods
Legislative Description
An Act Requiring Mortgagees To Deliver Mortgage Releases To The Town Clerk And To Accept Certain Forms Of Payment Tendered In Satisfaction Or Partial Satisfaction Of A Mortgage.
Last Action
File Number 629
4/29/2021