Absent an expressed intent to the contrary, a mortgage recorded in more than one town against (a) a single parcel of land lying in more than one town, or (b) a condominium unit located in a development which is located in more than one town, but which was discharged in fewer than all such towns shall be deemed to discharge the mortgage in all towns.
Comment 1 A title examiner need not inquire regarding an undischarged mortgage unless the record affirmatively discloses an intention that the mortgage continue to remain of force or effect. It is recommended that a copy of the recorded discharge be obtained and recorded in the town where no discharge is recorded but failure to do so does not impair marketability.
Comment 2 If the undischarged mortgage is a “blanket” mortgage affecting multiple parcels of land, whether contiguous or noncontiguous, then it must be discharged of record in every town in which a parcel is located.
Comment 3 When a unit in a condominium is located in one town, but the common elements allocated to the unit are located in an adjacent town, a discharge of a mortgage recorded only in the town in which the unit itself is located does not impair marketability. If the discharge is only recorded in the town where the common elements are located and not in the town where the unit is located, then it is recommended that a copy of the discharge so recorded be obtained and recorded in the town in which the unit is located but failure to do so does not impair marketability.
Comment 4 Provided the discharge is recorded in one town where the mortgage is recorded, the situs of the substantial part of the land does not alter the effect of the discharge of the mortgage.
September 27, 2018
- This standard was added.