Within how many days must a mortgagee execute a certificate of discharge after the mortgage has been satisfied?

The correct timeframe for a mortgagee to execute a certificate of discharge after the mortgage has been satisfied is thirty (30) days. This requirement ensures that once the debt has been fully paid and the mortgage has been satisfied, the borrower is able to clear their property title in a timely manner. The thirty-day window promotes efficiency and provides a clear process for all parties involved, facilitating the transition of ownership and reducing any potential confusion regarding the property’s status.

When a mortgage is discharged properly and within the stipulated timeframe, it helps maintain accurate public records. It also protects the rights of the borrower and contributes to the integrity of property transactions. If a mortgagee were to take longer than thirty days to execute the discharge, it could complicate matters for the borrower, especially if they are looking to sell or refinance their property. Thus, the thirty-day requirement is intended to encourage prompt action and ensure that individuals can move forward without unnecessary delays.