Delaware Amends Recording Requirements for Mortgagee Changes of Notice Address
The Delaware state legislature has enacted Senate Bill No. 32 concerning the requirements for the recording of a mortgagee’s change of address for purposes of notice.
In part, the amendment adds Section 2124 to Chapter 21 of Title 25 of the Delaware Code which outlines the following:
“Any mortgagee or any assignee of a mortgage under § 2109 of this title that changes its notice address from the address stated in any mortgage or assignment of mortgage may file in the recorder of deeds office in the county in which the mortgage or any assignment has been recorded a Statement of Mortgagee Address Change. The filing of a Statement of Mortgagee Address Change is public notice to all parties interested in such mortgage or assignment of mortgage, or the property upon which it is a lien, of the address where the legal holder of such mortgage or assignment of mortgage may receive any notice. Until such time as a Statement of Mortgagee Address Change has been filed, any party having an interest in such mortgage or assignment of mortgage, or the property upon which it is a lien, is fully protected by sending all notices to the legal holder of such mortgage or assignment of mortgage at the notice address provided in the mortgage or the last assignment of record.”
Additionally, Section 2124 includes a sample form of Statement of Mortgagee Address Change which includes the information required for recording the notification.
Senate Bill No. 32 also amends Section 2111 which includes instructions for recorders on indexing Statements of Mortgagee Change of Address. A recorder may create a separate index for the recording of these documents or index the same in the index used for recorded mortgages. “If the recorder creates a separate index for Statements of Mortgagee Change of Address, it may be called the Statement of Mortgagee Change of Address Index, which must reference the mortgagor, mortgagee, record book, and page of the mortgage for which the mortgagee has changed its address, and the mortgagee’s notice address as provided in the Statement of Mortgagee Change of Address.”
Margaret Wright, JD, is regulatory compliance director with CLA. She is a graduate of Stonehill College and earned her juris doctor at Suffolk University Law School. She is admitted to the Massachusetts Bar.
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