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The Delaware Department of Transportation requested a survey of the other states regarding:
This is an occasional problem for us but we do not have a law that addresses it.
ARS 33-707 and ARS 33-712.
With regard to Full Take acquisitions, mortgagee(s)/beneficiaries do have a 30 day time frame from the date the mortgage has been satisfied (paid), and to have a full reconveyance executed. More details regarding these time frames can be found in section 2941 and 2943 of the Civil Code.
Please refer to the link below. On partial acquisitions, I don't believe there is any such requirement in California, as such this is one of the main reasons our escrows get delayed on partial acquisitions as it sometimes takes a while to get the reconveyance as sometimes the lenders are putting a demand on the entire amount offered, and they may not be entitled to it.
As you know, they should not put a demand on the amount which we consider "curable damages" as this money is offered to the property owner to cure damages, and restore the collateral for their loan.
Not that I'm aware of at this time, though any legislation that may expedite that process would certainly be well received by CDOT.
701.04 Cancellation of mortgages, liens, and judgments.--
Illinois does not have laws regulating the timing of mortgage releases.
Kentucky does not have such a law.
Louisiana has no laws addressing time frames for mortgage releases.
Maryland has no legislation regarding time frames for Mortgage Releases.
When any mortgagee, mortgagee's personal representative or assignee, upon full performance of the conditions of the mortgage, shall fail to discharge the same within ten days after being thereto requested and after tender of the mortgagee's reasonable charges therefore, that mortgagee shall be liable to the mortgagor, the mortgagor's heirs or assigns, for all actual damages thereby occasioned; and a claim for such damages may be asserted in an action for discharge of the mortgage. If the defendant be not a resident of the state, such action may be maintained upon the expiration of 60 days after the conditions of the mortgage have been performed, without such previous request or tender.
HIST: (8235) RL s 3364; 1986 c 444
The web link below will confirm that Missouri requires mortgage release within 30 days, and provides the language you desire.
After consulting with our legal staff, it doesn't appear that Montana has any laws to make mortgage companies provide a release of mortgage within a certain time period. On parcels that were turned over for condemnation, where the mortgage company is refusing to execute a release, the mortgage company is simply named in the lawsuit along with the landowner and their interest is cleared through the condemnation action. On all other parcels, we just have to work on the mortgage company's time frame in getting releases executed.
Sorry, no such legislation in NH.
New Jersey has no such legislation of which I am aware.
North Dakota has not enacted laws to make mortgage companies provide a release within a certain time frame.
Answer to question number 1 is No.
South Carolina has no legislation requiring a mortgage company to provide a release.
No. South Dakota has not enacted laws to make mortgage companies provide a release within a certain time frame.
Utah has no law in place to require a release within a certain period of time.
Wisconsin's response is "no".