South Carolina General Assembly
115th Session, 2003-2004

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H. 4956

STATUS INFORMATION

General Bill
Sponsors: Reps. E.H. Pitts, Toole and Huggins
Document Path: l:\council\bills\pt\1919mm04.doc

Introduced in the House on March 16, 2004
Currently residing in the House Committee on Judiciary

Summary: Methods of entering satisfactions of mortgages in public records

HISTORY OF LEGISLATIVE ACTIONS

     Date      Body   Action Description with journal page number
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   3/16/2004  House   Introduced and read first time HJ-32
   3/16/2004  House   Referred to Committee on Judiciary HJ-33

View the latest legislative information at the LPITS web site

VERSIONS OF THIS BILL

3/16/2004

(Text matches printed bills. Document has been reformatted to meet World Wide Web specifications.)

A BILL

TO AMEND SECTION 29-3-330, AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO METHODS OF ENTERING SATISFACTIONS OF MORTGAGES IN PUBLIC RECORDS, SO AS TO DELETE THE REQUIREMENT THAT AN ATTORNEY'S AFFIDAVIT OF SATISFACTION BE PROBATED OR ACKNOWLEDGED.

Be it enacted by the General Assembly of the State of South Carolina:

SECTION    1.    Section 29-3-330(e) of the 1976 Code, as added by Act 67 of 1999, is amended to read:

"(e)    Any A licensed attorney admitted to practice in the State of South Carolina who can provide proof of payment of funds by evidence of payment made payable to the mortgagee, holder of record, servicer, or other party entitled to receive payment may record, or cause to be recorded, an affidavit, in writing, duly executed in the presence of two witnesses and probated or acknowledged, which states that full payment of the balance or pay-off amount of the mortgage or other instrument securing the payment of money and being a lien upon real property has been made and that evidence of payment from the mortgagee, assignee, or servicer exists. This affidavit, duly recorded in the appropriate county, shall serve serves as notice of satisfaction of the mortgage and release of the lien upon the real property. The filing of the affidavit shall be is sufficient to satisfy, release, or discharge the lien. Upon presentation of the instrument of satisfaction, release, or discharge, the officer or his deputy having charge of the recording of instruments shall record the same. This section may not be construed to does not require an attorney to record an affidavit pursuant to Section 29-3-330(e) or to create liability for failure to file such an affidavit. The licensed attorney signing any such an instrument described in item (e) which is false is guilty of perjury and subject to Section 16-9-10 and shall be is liable for damages that any a person may sustain as a result of the false affidavit, including reasonable attorney's fees incurred in connection with the recovery of such the damages. The affidavit referred to in this item (e) shall must be as follows:

'STATE OF SOUTH CAROLINA            MORTGAGE LIEN

COUNTY OF __________                        SATISFACTION

AFFIDAVIT

PURSUANT TO SECTION 29-3-330

OF SC CODE OF LAWS

FOR BOOK ____ PAGE _____

The undersigned on oath, being first duly sworn, hereby certifies as follows:

1.    The undersigned is a licensed attorney admitted to practice in the State of South Carolina.

2.    That with respect to the mortgage given by ______________________ to ______________________ dated _____________ and recorded in the offices of the Register of Deeds in book _________ at page ________:

a.    [ ]        That the undersigned was given written payoff information and made such payoff and is in possession of a canceled check to the mortgagee, holder of record, or representative servicer;

b.    [ ]        That the undersigned was given written payoff information and made such pay off payoff by wire transfer or other electronic means to the mortgagee, holder of record, or representative servicer and has confirmation from the undersigned's bank of the transfer to the account provided by the mortgagee, holder of record, or representative servicer.

Under penalties of perjury, I declare that I have examined this affidavit this ___ day of ____________ and, to the best of my knowledge and belief, it is true, correct, and complete.     ________________________    __________________________

(Witness)                                             (Signature)

________________________    __________________________

(Witness)                                             (Name - Please Print)

__________________________

(Attorney's S.C. Bar number)

__________________________

(Street Address)

__________________________

(City, State, Zip Code)

__________________________

(Telephone

SUBSCRIBED AND SWORN TO

before me this __________ day

of ____________________, ______

_____________________________

(Notary Public)

My commission expires: _________.'

Upon presentation to the office of the Register of Deeds the Register is directed to record pursuant to Section 29-3-330(e) and mark the mortgage satisfied of record."

SECTION    2.    This act takes effect upon approval by the Governor.

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