Maine Discharge of Mortgage

Discharge of Mortgage for Real Estate Located in Maine

In general the mortgagee/lender has 60 day in which to record a discharge of mortgage once notified (If a release is not transmitted to the registry of deeds within 60 days, the owner and any such servicer are jointly and severally liable to an aggrieved party for damages equal to exemplary damages of $200 per week after expiration of the 60 days, up to an aggregate maximum of $5,000) This form is used (by the mortgagee or by the mortgagee's duly authorized officer or agent, personal representative or assignee.) (All discharges of recorded mortgages, attachments or liens of any nature must be recorded by a written instrument.) (551. Entry on record; neglect to discharge)

For use in Maine only.

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