Bobbi: Read 24 V.S.A. 1158 it simply states you record assignments and
discharge of mortgages. You are not responsible for the miss information
in the document. Also food for thought. If you have the Book of Opinions
published by Jim Douglas and Paul Gillies, read pages 165 through 170 in
Volume I. Although these are opinions, they help you to understand and
also quote the statutes that you should read.
Take care and hope this is helpful.
At 04:30 PM 5/14/99 -0400, you wrote:
>This question is for Town Clerks. I am still new at this, so I would like
>to hear from other clerks about how they handle recording. Recently we
>have been receiving dozens of mortgage assignments and discharges. What do
>you do if the assignment or discharge comes from a bank that you do not
>show as the owner of the mortgage?
>Example: We have a mortgage from John Doe to Summit Financial and an
>assignment from Summit to Colonial Mortgage. We have just received an
>assignment from Bank of New Hampshire (successor by merger to CRX Bank) to
>People's Heritage Bank. Since I show nothing transferring the mortgage
>from Colonial to either CRX or Bank of New Hampshire, what should I do? I
>have been told to record whatever I am sent, but is it my responsibility to
>check ownership? Would you send the assignment back, or record it as is,
>or record it with a note that I have questions about it?
>Another example: We have a mortgage from me to Summit, an assignment from
>Summit to Peoples, an assignment from Peoples to Wells Fargo, and then
>another assignment from Peoples, this one to GMAC. Finally, the discharge
>came from Wells Fargo. Shouldn't we have received an assignment from Wells
>Fargo to GMAC? And since we were making our payments to GMAC, is the
>discharge from Wells Fargo legal? Am I the only one who has these
>situations? Since this was my own mortgage, I know that Wells Fargo was
>purchased by GMAC, but there is no paper trail saying that in the Clerk's
>A third example: We have a mortgage from John Doe to the Small Business
>Administration, and a discharge from the Howard Bank, with nothing showing
>a connection from the SBA to Howard Bank.
>I am also wondering how other clerks record assignments. Do you make new
>index cards showing the various banks as grantor/grantee, or do you just
>note the assignments on the original cards? I am assuming that you note
>the assignments in the margin of the original mortgage.
>Thanks for any input that you can give me!
>Bobbi Brimblecombe, Marshfield