Mr. Swarthout discussed New York Real Property Law Sec. 321, Recording Discharge of Mortgage. RPL §321 is useful when working with private mortgages and offers guidance on, inter alia, who is required to sign a satisfaction of mortgage. A discharge of mortgage “shall be signed by all of the persons named in the mortgage or [last] assignment” or their “personal representative” if the mortgage “(i) specifies their respective interest in terms of a sum of money … or percentage, or (ii) states that such persons …. have equal shares in the mortgage, or (iii) describes such persons as tenants in common of the mortgage.” “Except as required above, the discharge may be signed by any one of the persons named in the mortgage … or by the personal representative of the last survivor of them.”
November Title Tidbit by Eric Swarthout – Thoroughbred Title Services
