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DE SB52
Bill
Status
9/29/2017
Primary Sponsor
Brian Bushweller
Click for details
AI Summary
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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.
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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.
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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.
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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.
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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