If the mortgagee (lender) fails to record a satisfaction within the set time limits, the mortgagee may be responsible for damages set out by statute.

A Satisfaction of Mortgage is a document signed by a mortgagee acknowledging that a mortgage has been fully paid by the mortgagor and that the mortgage is no longer a lien on the property. In order to clear the title to the real property owned by the mortgagor, the Satisfaction of Mortgage document must be recorded with the County Recorder or Recorder of Deeds.

The same local county/parish Registrar or Recorder who recorded the Deed of Trust will record the satisfaction or reconveyance papers. Your mortgage company is responsible for filing the appropriate documentation.

Of course!

There are different systems of land records. Some are filed by town and some by county. You must be sure to file the mortgage release in the same registry district where the mortgage was filed. For example, if your mortgage was filed in Franklin County, Massachusetts, the satisfaction must be filed in Franklin County.