Checklist for a discharge of mortgage after repayment
Key facts
- Human involvement
- YellowClose supervision
- How AI is used
- List the land, the recording county, whether principal, interest and other amounts due have been paid, and whether the mortgage is a credit-line mortgage. Do not prepare the satisfaction. State law governs, and the lawyer confirms the governing state. For example, New York.
- What the lawyer must review
- This section is New York law for real property in that state. N.Y. Real Property Actions and Proceedings Law § 1921 requires the mortgagee, after payment of authorised principal, interest and any other amounts due has actually been made, and for a credit-line mortgage on written request, to execute and acknowledge a satisfaction in the manner required for a recordable conveyance, and within 30 days to present it for recording or, if requested, deliver it to the mortgagor. The stated liability for failing to present a certificate of discharge is $500 after 30 days, $1,000 after 60 days and $1,500 after 90 days, and for that liability a mortgagee does not include a person who makes fewer than five mortgage loans in a calendar year. The note and mortgage are to be delivered within 45 days. A payment that does not cover the full amount does not by itself require a satisfaction. You prepare the instrument. U.C.C. § 9-513 terminates a financing statement. It does not discharge a mortgage. Another state's land uses that state's statute. State law governs, and the lawyer confirms the governing state. For example, New York.
- Written for / version
- United States versionUS
Who does what
| Role | What they do |
|---|---|
| Assistance | Consider narrowly defined preparation support after confirming the tool’s capability and permitted scope. |
| Lawyer | Set the scope, supervise the work closely, verify every part relied on, resolve omissions and exceptions, and approve the exact output. |
Checklist
- Trace every relied-on figure to its source, confirm dates and assumptions, and independently recalculate totals or derived amounts.
- Verify the applicable jurisdiction and the version of each relevant law, rule or instrument in force at the material time.
- Confirm the output against the client’s instructions and the complete relevant source material, including omissions or contradictions.
- Resolve exceptions and record the responsible lawyer’s approval of the exact output and intended use.