Pennsylvania Act 1941-178 — CREATING A PRESUMPTION OF DISCHARGE OF MORTGAGES

Act text

CREATING A PRESUMPTION OF DISCHARGE OF MORTGAGES
                 Act of Jul. 24, 1941, P.L. 466, No. 178              Cl. 68
                                  AN ACT

     Creating a presumption of release or discharge of certain
        mortgages held by the Commonwealth, and empowering the
        Department of Justice to enter satisfaction thereof at the
        cost of the property owners.

        The General Assembly of the Commonwealth of Pennsylvania
     hereby enacts as follows:

        Section 1.  In all cases where any mortgage against any real
     property is held by the Commonwealth for any purpose, either as
     mortgagee or as assignee, and no payment, claim or demand shall
     have been made on account of, or for, either the principal or
     any interest on such mortgage, or for the payment of any money
     or the performance of any other obligation secured thereby, for
     a period of fifty years, a release or discharge of such mortgage
     shall be presumed, and the Department of Justice may upon
     application of the owner or owners of the property bound by such
     mortgage enter satisfaction thereof upon the record in the
     office of the recorder of deeds wherein the same is recorded.
     All costs and expenses in connection with the entry of such
     satisfaction shall be paid by the persons applying therefor.
        Section 2.  All acts and parts of acts inconsistent with the
     provisions of this act are hereby repealed.
        Section 3.  This act shall become effective immediately upon
     final enactment.