Lowell Deeds

The latest on real estate recordings and new technology from the Middlesex North Registry of Deeds in Lowell

February 14, 2008

Discharging Mature Mortgages

by @ 12:50 pm. Filed under Indexing

A customer sent an email asking how to discharge an old mortgage that’s past it’s maturity date and where the lender is a corporation that was long ago dissolved. Oh, and it’s registered land. If there’s no stated maturity date, then the mortgage expires in 35 years. If there is a stated maturity date, then the mortgage expires 5 years after that. For example, if a mortgage executed and recorded in 1980 stated it was due and payable in 20 years, that mortgage, that mortgage would have been deemed discharged in 2005. Of course, if there’s a valid extenion, acknowledgement or affidavit that the mortgage has not been satisfied, then it is not discharged. Absent that, if you have a mortgage that falls into this category, you should submit a written request that a “discharge notation” be made on the certificate. Your request should specify the document number of the mortgage and the date of registration, the original mortgagor and mortgagee and any assignee. Sign the request and include a check for $75 and, if all is in order, we will make the notation on the certificate.

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