Bill > HB437

This bill establishes new rules for automatically discharging (canceling) old mortgages that remain undischarged in New Hampshire's land records. Specifically, the bill creates two different discharge timelines based on whether the original mortgage document specified a term or maturity date. For mortgages without a stated term, the bill mandates that they will be automatically considered discharged 35 years after their recording date, effective January 1, 2028. For mortgages with a stated term or maturity date, they will be automatically discharged 5 years after that term or date expires, also effective January 1, 2028. The bill allows property owners or mortgage holders to prevent automatic discharge by recording an extension, acknowledgment, or affidavit before the designated time period expires. If such a document is recorded, the mortgage will then have an additional 5-year extension before being automatically discharged. The bill repeals a previous statute about mortgage limitations and will take effect 60 days after passage, providing a clear mechanism for cleaning up old, potentially forgotten mortgage records and reducing administrative confusion in land record management.

Business and Industry, Housing and Urban Affairs

https://gc.nh.gov/bill_status/legacy/bs2016/bill_docket.aspx?lsr=0509&sy=2025&sortoption=&txtsessionyear=2025&txtbillnumber=HB437