HB1436

Mississippi HB1436 requires notification of unpaid ad valorem taxes to landowners after a mortgage or deed of trust is satisfied.

Mississippi HB1436 amends Section 89-5-21 of the Mississippi Code to mandate that upon satisfaction of a mortgage or deed of trust, the clerk of the chancery court must notify the county tax collector that the property is no longer encumbered. The tax collector then has 90 days to inform the landowner of any unpaid ad valorem taxes. Failure to cancel the mortgage or deed of trust within one month of a written request results in a $200 penalty. This act aims to ensure landowners are aware of any outstanding taxes after their property is released from mortgage or deed of trust encumbrances.