The Michigan Legislature recently signed into law a bill amending MCLA §§ 565.41 and 565.44.  The statute now requires that servicers record lien discharges more quickly: within 75 days after payoff for the first two years after the Act's effective date (until December 27, 2006), and within 60 days thereafter.  In addition, the law increases penalties and liabilities to servicers who fail to timely record lien discharges.

The new statute also sets forth requirements to address slow recording times, requiring the register of deeds to stamp with date of receipt any discharge that does not get recorded on the day it is received. 

Please follow the link below to a page on the Michigan Legislature's web site with more information about this newly enacted legislation.

Michigan Legislature Public Act 447 of 2004 (Effective: 12/27/2004)