Senate Bill 52
149th General Assembly (Present)
Becomes effective upon date of signature of the Governor or upon date specified
AN ACT TO AMEND TITLE 25 OF THE DELAWARE CODE RELATING TO THE SATISFACTION AND PARTIAL RELEASE OF MORTGAGES.
This Act will allow a retired Delaware attorney to satisfy a mortgage that the attorney paid off while in practice. Currently only attorneys still in active practice are permitted to satisfy mortgages under Section 2120. This limitation can leave no practicable way to satisfy a mortgage for which the lender fails to record a satisfaction as required by State law if the attorney who paid off the mortgage subsequently retires. This Act will also expand the scope of Section 2120 to include partial releases of a mortgage where a Delaware attorney made a partial payment to release a portion of the mortgaged property.