Friday, July 25, 2008

Update on Recording Fees for Multifunctional Documents

On July 13, 2008, Governor Patrick signed the FY 2009 budget which included outside sections amending Massachusetts General Laws Chapter 262, § 38 and Chapter 44B, § 8 to require additional recording fees for multifunctional documents. The Amendments provide that “when a document includes multiple references to a document or instrument intending or attempting to assign discharge, release, partially release, subordinate or notice any other document or instrument, each reference shall be separately indexed and separately assessed and additional recording fee.”

The intent of the Amendments is eliminate any confusion that may have arisen with respect to recording fees subsequent to the Patriots Resorts Corporation case [71 Mass. App. Ct. 114] and to codify the current practice of most Registries. The practical result is that if a single document discharges a Mortgage, an Assignment of Leases and Rents and a U.C.C., the recording fee will be $195.00, as if it were three separate discharges. The effect of the Amendments is retroactive to eliminate any potential claims for excess recording fees that may have been brought pursuant to the Patriots Resorts Case

Click Here to View the House Bill

Tuesday, July 15, 2008

Reminder: The Facts & Truths About Reverse Mortgages Seminar TODAY

Today the Registry of Deeds will be hosting two seminars entitled "The Facts & Truths About Reverse Mortgages" presented by Millbrook Mortgage.

The first seminar will be geared towards the general public and will begin at 1:00 PM. The second seminar, designed for attorneys, will begin at 4:30PM. Both seminars will be located in the Commonwealth Room of the Worcester Registry of Deeds, 90 Front Street, Worcester.

Tuesday, July 1, 2008

The Facts and Truths about Reverse Mortgages

The Registry of Deeds is hosting a seminar on The Facts and Truths about Reverse Mortgages. Presented by Millbrook Mortgage, the seminar will focus on reverse mortgages from an attorney's perspective.

Time and Place: July 15, 2008 at 4:30PM in the Registry of Deeds Commonwealth Room

Buy Worcester Now Program

Worcester City Manager Michael V. O'Brien and the Registry of Deeds will be conducting a seminar, Buy Worcester NOW, for all attorneys interested in a proposal to create new demand in the Worcester Housing Market. The seminar will be held in the Commonwealth Room of the Registry of Deeds on July 7, 2008 from 2:30 until 3:30 PM.