CHAPTER 465
FORMERLY
HOUSE BILL NO. 596
AS AMENDED BY HOUSE AMENDMENT NO. 1
AN ACT TO AMEND CHAPTER 21, TITLE 25 OF THE DELAWARE CODE RELATING TO MORTGAGE SATISFACTIONS.
BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF DELAWARE:
Section 1. Amend Chapter 21, Title 25 of the Delaware Code by adding a new §2120 which shall read as follows:
"§2120. Authorization to satisfy mortgage.
(a) An attorney authorized to practice law in the State of Delaware who has paid in full or caused to be paid in full a debt owed by any debtor to any creditor holding a mortgage securing such debt and encumbering a property owned by the debtor, may, at any time after the expiration of four (4) months after such debt has been paid in full, and after giving a minimum of fifteen (15) days notice to said creditor, record with the Recorder of Deeds in the County in which such property is located, an affidavit and request which shall contain the following information:
(1) the mortgage record, volume and page of the mortgage proposed to be marked fully paid and satisfied;
(2) the full name and address of the original mortgagee;
(3) the name of the original mortgagor(s);
(4) the original date of the mortgage;
(5) the original amount of the mortgage;
(6) a satisfactory description of the property which is encumbered by the mortgage, including, but not limited to:
(a) the property address and/or lot number;
(b) subdivision name, if any, and;
(c) the tax parcel number assigned to such property;
(7) the name of each entity to whom the mortgage was subsequently assigned, together with the dates and recording information of said assignments;
(8) the full name and address of the last mortgagee in interest which appears of record on the mortgage;
(9) the full name and address of the creditor who was fully paid;
(10) if the fully paid creditor is other than the last mortgagee of record on the date of said payment, a statement that the attorney whose signature appears on the affidavit was given written authorization by said last mortgagee to pay said creditor;
(11) if the mortgage secured a home equity or other consumer open line of credit, affiant attorney, where requested in writing
by the mortgagee, shall, also in writing, instruct said mortgagee to close, effective upon the date and time of receipt of the mortgage "payoff figure" the open line of credit and that no additional funds are to be advanced under the open line of credit;
(12) the date on which the debt was fully paid;
(13) that at least four months have elapsed since the debt was fully paid;
(14) that the affiant attorney has fully paid said debt to the creditor and retains evidence thereof;
(15) that after a minimum of fifteen (15) days notice, by certified mail, return receipts requested, the mortgagee of record at the time of the full payment described in the affidavit, has failed to accomplish satisfaction of the mortgage in the mortgage record, volume and page in which such mortgage appears in the public records;
(16) that the attorney requests the Recorder of Deeds in the County in which such property is located to indicate in the property records of that County that such mortgage is fully paid and satisfied;
(17) that the attorney whose signature appears on said affidavit has personally reviewed all of the information and each of the facts contained in said affidavit and request; and
(18) that the information contained in said affidavit and request is true and correct to the best of the attorney's knowledge.
(b) The Recorder of Deeds, or a duly appointed deputy, in the County in which the debtor's property encumbered by such mortgage is located shall be authorized to cause said mortgage to be satisfied upon receipt of such affidavit and request by the attorney fully paying such debt.
(c) The Recorder of Deed's Office may charge a fee for accepting and recording the affidavit and satisfying the mortgage.
(d) This section shall, in no way, limit the authority of the Recorder of Deeds to otherwise satisfy mortgages as provided by law.
(e) The following or substantially consistent revisions by the Recorder of Deeds shall be a sufficient form of mortgage satisfaction affidavit pursuant to this section:
AFFIDAVIT CERTIFYING MORTGAGE PAYOFF
AND REQUEST FOR MORTGAGE
SATISFACTION PURSUANT TO
25 DEL. C. §2119
STATE OF DELAWARE)
) SS. NEW CASTLE COUNTY)
I, the undersigned, an attorney authorized to practice law in the State of Delaware, after having first been duly sworn, depose and say as follows:
(1) The mortgage proposed to be marked fully paid and satisfied appears in Mortgage Record , Volume , Page ;
(1) The full name and address of the original mortgagee
(4) The original date of the mortgage is
(5) The original amount of the mortgage is
(6) A satisfactory description of the property which is encumbered by the mortgage, including, but not limited to the following is:
(a) the property address and/or lot number is
(b) subdivision name, if any,
and
(c) the county tax parcel number assigned to such property is
(7) After the original mortgage was recorded, the mortgage was subsequently assigned of record to each of the following entities on the date and at the Book and Page there noted:
to on at Book/Volume and Page No.
to on at Book/Volume and Page No.
to on at Book/Volume and Page No.
to on at Book/Volume and Page No.
(8) The full name and address of the last mortgagee in interest on the mortgage is ;
(9) The full name and address of the creditor who was fully paid is
(10) , who is the creditor that was
fully paid, is other than
the last mortgagee in interest which appeared of record on the date of said payment. I did, however, obtain the written authorization of
said last mortgagee, to
pay , the creditor noted
at the beginning of this paragraph.
(1) I have, where applicable, instructed the mortgagee, in writing,
effective the date and time of receipt of the mortgage "payoff figure",
to close and decline any further advances on the home equity or other
consumer open line of credit which was secured by the affected mortgage.
(2) The date on which the debt was fully paid is
(3) At least four months have elapsed since the debt was fully paid and the amount of the debt so paid is not in dispute;
(4) I fully paid or caused to be fully paid such debt to the creditor and retain evidence of said payment;
(5) After a minimum of fifteen (15) days notice by me, by certified mail, return receipt requested, the last mortgagee In interest has failed to take appropriate steps to accomplish satisfaction of the mortgage in the mortgage in the mortgage record, volume and page where such mortgage appears in the public records;
(6) I request the Recorder of Deeds in County to indicate
in the record of said County that such mortgage is fully paid and satisfied;
(17) I have personally reviewed all of the information and each of the facts contained in this affidavit and request; and
(18) The information contained in this affidavit and request is true and correct to the best of my knowledge.
(f) An affidavit given in the form above shall be notarized by a notary public."
Approved July 20, 1994.