Loading chat...

DE SB52

Bill

Status

Passed

9/29/2017

Primary Sponsor

Brian Bushweller

Click for details

Origin

Senate

149th General Assembly

AI Summary

  • Allows retired Delaware attorneys to satisfy mortgages they paid off while in active practice, with approval of their relevant records by an active Delaware Bar member.

  • Enables attorneys to file affidavits with county recorders of deeds to satisfy or partially release mortgages when lenders fail to record satisfaction within 60 days of full payment or 4 months of partial payment.

  • Expands statute to include partial releases of mortgages when an attorney makes a partial payment to release a portion of mortgaged property from the mortgage lien.

  • Requires affidavits to include specific mortgage information, payment evidence, proof of notice to creditors, and personal review and certification by the attorney or retired attorney.

  • Authorizes county recorders of deeds to charge a fee for accepting, recording, and processing mortgage satisfaction or partial release affidavits.

Legislative Description

An Act To Amend Title 25 Of The Delaware Code Relating To The Satisfaction And Partial Release Of Mortgages.

Last Action

Signed by Governor

9/29/2017

Committee Referrals

Economic Development/Banking/Insurance/Commerce4/26/2017
Banking, Business & Insurance3/30/2017

Full Bill Text

No bill text available