Bill > H1625

This bill, titled the "Reliable Land Title Act," aims to improve the accuracy and reliability of land titles by implementing new regulations for registries of deeds, which are offices responsible for recording official documents related to property ownership. Key provisions include requiring documents submitted for recording to have a clear heading indicating their purpose, mandating that mortgage assignments and foreclosure deeds be recorded within specific timeframes with exceptions for good cause, and requiring mortgage servicers to provide more detailed information on mortgage statements, including contact details for the current mortgage owner and the entity to whom the mortgage note is payable. The bill also introduces stricter requirements for foreclosures, such as the need for a mortgagee's affidavit of jurisdiction and authority to foreclose, and establishes penalties for submitting fraudulent documents affecting property titles, including criminal charges and barring individuals or entities from doing business in the Commonwealth. Additionally, it clarifies procedures for foreclosures by entry and possession, and mandates that the Attorney General inform registers of deeds of relevant legal changes and publish any legal opinions requested by them.