New Jersey Law Revision Commission
New Jersey Law Revision Commission

Projects

Projects

Mortgage Recording

Recording Mortgage Servicers - recommends changes to the law regarding the duty to prepare a document showing that a mortgage has been satisfied (clarifying that the record mortgagee must sign the satisfaction of mortgage) in order to make the chain of title clear - the records will show who held the mortgage and that that party has declared it satisfied (if the record holder has no continuing relationship to the mortgage or its owners, it may file an assignment to the proper party); also proposes language to address fraud by persons claiming to be servicers of a mortgage (terms: mortgage recording, recording of servicers, mortgage servicers).

Statute: L. 2015, c. 225


Final Report of 09/13/2013

Final Report