Helping Homeowners, Realtors, and Real Estate Attorneys
Solve Title Exam Issues.

Common discharge defects

Massachusetts has a law in place that requires lenders to provide a discharge of mortgage (also known as “Lien Release”) within 45 days to the party who paid off the loan. In most situations this would happen to be the real estate attorney who handled the property sale, or refinance.

(See Massachusetts General Laws Chapter 183, Section 55.)

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How to obtain a mers discharge

For those people who are not familiar with Mortgage Electronic Registration Systems, Inc. (MERS, Inc.), I wanted to provide a brief description of what it is.

MERS, Inc. was created so that lenders would no longer be required to record Assignments of Mortgage with the Registry of Deeds once a specific note and mortgage gets assigned. Rather, the mortgage is originated in MERS’s name. The language of the mortgage reads: “MERS, Inc. as Nominee for  (lender)”. This permits the mortgage to be assigned from lender to lender, yet MERS, Inc. still holds the mortgage on record.

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