(DOWNLOAD) "Why Mortgagors can't Get No Satisfaction. (Symposium: A Festschrift in Honor of Dale A. Whitman)" by Missouri Law Review * eBook PDF Kindle ePub Free

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eBook details

• Title: Why Mortgagors can't Get No Satisfaction. (Symposium: A Festschrift in Honor of Dale A. Whitman)
• Author : Missouri Law Review
• Release Date : January 22, 2007
• Genre: Law,Books,Professional & Technical,
• Pages : * pages
• Size : 407 KB

Description

I. INTRODUCTION Full payment of a mortgage loan--whether at the loan's originally scheduled maturity or (more commonly) by prepayment upon a sale or refinancing--legally extinguishes the mortgage lien. But while such a mortgage lien is no longer legally effective, its extinguished status does not appear automatically on the public records. Until the mortgage is "cleared" from the record--typically by means of a recorded document called a satisfaction, release, discharge, or cancellation, depending on local practice--a searcher could reasonably conclude that the mortgage may affect title to the land.

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