Maryland HB1566 modifies the recording and assignment of mortgages and deeds of trust to clarify title presumptions and payment effectiveness.
Maryland HB1566 amends the recording and assignment of mortgages and deeds of trust. It specifies that the title to a promissory note or debt secured by a mortgage is presumed to be in the person holding the record title to the mortgage, unless the mortgage is released. It also states that payments made to the assignor of a mortgage are effective to reduce or discharge the note or debt unless the mortgagor has received actual notice of the assignment.
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- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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