How many days must a satisfaction of mortgage be filed after written demand?

Prepare for the Alabama Title Insurance Test with interactive tools. Study with multiple choice questions and detailed explanations. Ensure your success on exam day!

In Alabama, after a borrower has made a written demand for a satisfaction of mortgage, the lender is required to file a satisfaction of mortgage within a specified time frame. The law mandates that this satisfaction must be recorded within 30 days after receiving the written demand. This requirement ensures that once a mortgage has been paid off, the property owner is not burdened by the debts associated with that mortgage, and that public records reflect the true ownership status of the property. Timely filing prevents potential legal complications and provides clarity for future transactions involving the property. This aligns with the answer that indicates 30 days as the correct response, emphasizing the importance of adhering to this timeline for both lenders and borrowers.

Subscribe

Get the latest from Examzify

You can unsubscribe at any time. Read our privacy policy