Bill > SB316

This bill amends Title 25 of the Delaware Code to allow licensed Delaware attorneys to satisfy not only mortgages but also other recorded monetary liens, such as those from homeowner associations, condominiums, UCC financing statements, and judgments, when these liens have been paid off. Previously, the law primarily focused on attorneys satisfying mortgages. The bill introduces a new subsection (j) that defines "lien" for the purposes of this amendment, explicitly excluding mortgages from this expanded definition but including various other financial encumbrances recorded with a recorder of deeds office. Under this new provision, attorneys can utilize existing procedures for satisfying or partially releasing these other types of liens, provided they use an affidavit that is substantially similar to those already authorized for mortgage satisfactions, with adjustments made as needed for the specific type of lien being addressed.