Pennsylvania Act 1929-544 — VALIDATING MORTGAGES SATISFACTIONS

Act text

VALIDATING MORTGAGES SATISFACTIONS
                  Act of May 9, 1929, P.L. 1691, No. 544              Cl. 68
                                  AN ACT

     Validating certain satisfactions of mortgages heretofore entered
        in good faith at the instance of the mortgagee and providing
        that the record of copies thereof shall be received in
        evidence.

        Section 1.  Be it enacted, &c., That all satisfactions of
     mortgages heretofore entered in good faith, at the instance of
     any mortgagee or assignee of record, on the record of any
     mortgagee, by virtue of an authorization acknowledging the
     receipt of the amount due on the mortgage, or a statement of the
     mortgagee's or assignee's desire to have said mortgage
     satisfied, or in any other manner other than by a satisfaction
     entered by the mortgagee or assignee of record personally or by
     the recorder of deeds or any other person acting under a letter
     or power of attorney duly executed and acknowledged, are hereby
     declared to be good and valid and to operate as a complete
     satisfaction of such mortgage, in like manner as if said
     mortgage had been personally satisfied by the mortgagee on the
     margin of the record as provided by law: Provided, That said
     acknowledgment of the receipt of the amount due, or a statement
     of the mortgagee's or assignee's desire to have said mortgage
     satisfied, shall have been duly signed and acknowledged by said
     mortgagee or assignee of record in due form of law and recorded
     as mortgages are now recorded, and the record of such instrument
     or a duly certified copy thereof shall be as good evidence as
     the original receipt or statement duly proven in any court of
     justice.