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Bill would create curative process for undischarged mortgages, witnesses say it would reduce title litigation
Summary
House Bill 437 would allow a curative administrative process for mortgages that remain recorded without a discharge; supporters said it would spare homeowners and buyers substantial legal costs now required to clear title through Superior Court.
Representative Bill Boyd presented House Bill 437, a statutory curative measure for undischarged mortgages recorded in the registry of deeds. Boyd said the bill mirrors procedures in Massachusetts and was developed with broad stakeholder input from bankers, realtors and the banking department.
Witnesses told the committee that undischarged mortgages create delays and substantial costs…
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