Bill Summary for H 203 (2011-2012)

Summary date: 

Jun 19 2012

Bill Information:

View NCGA Bill Details2011-2012 Session
House Bill 203 (Public) Filed Tuesday, March 1, 2011
TO PROVIDE AN ALTERNATIVE MORTGAGE SATISFACTION FORM THAT ALLOWS A SECURED CREDITOR TO INDICATE THAT THE UNDERLYING OBLIGATION HAS BEEN EXTINGUISHED.
Intro. by Crawford.

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Bill summary

Senate amendment makes the following changes to 2nd edition. Amends proposed GS 14-118.6(b) to allow an entity to refuse to file a lien or encumbrance (was, the entity shall not allow the lien or encumbrance to be filed) when there is a reasonable suspicion that it is false. Adds that no entity is liable for filing or refusing to file a lien or encumbrance under the statute. Provides that in order for a judge to order the lien or encumbrance to be filed when there is an appeal, the judge must find that the lien or encumbrance is authorized by statute and the record appears on its face to contain all of the information required by the statute under which it was offered.

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