Submitted by WayneK on Tue, 10/06/2009 - 08:55
Posted in
Still trying to find out if a mortgage is set at a 5 year term and was paid but no release was filed. Is there a point in time that the mortgage expires. Thanks for any help, WayneK
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Editor's Response
If it has not done so already, you need to get the mortgagee/lender to send a discharge to you and/or to the registry of deeds. Mortgages do not 'expire.' If no discharge is recorded at the registry, when you try to sell the house or refinance the old mortgage will show up as a lien on the property. If you are unable to get the discharge from the mortgagee on your own, you should contact an attorney.
Mortgage Discharge
The prior response is incorrect. if a mortgage states a maturity date on it's face, then it bcomes unenforceable, as a matter of law, five years after that date if no action is taken in the interim to enforce it.
Mortgage discharge
Interesting thought. As I read the question, the reader is asking if a mortgage lien will "expire" because the debt is paid off. While the mortgage may become unenforceable five years from its maturity date, (See Massachusetts General Laws Chapter 260, Section 33), it may still cloud the title before that five year period runs or longer if no maturity date is stated. I believe the better practice is to obtain and record the discharge.