46:18-5.1 - Cancellation of mortgages - New Jersey Statutes

46:18-5.1.   Cancellation of mortgages 
    46:18-5.1.  Cancellation of mortgages.  A mortgage shall be cancelled of record by the recording officer of any county in which the mortgage was recorded if: 

   a.   The original mortgage bearing on it the receipt given by the county recording officer at the time it was recorded is presented to the county recording officer with an endorsement on it authorizing its cancellation bearing the signature of the mortgagee or, if the mortgage has been assigned of record, of the last assignee of record of the mortgage.  If the mortgagee or assignee of the mortgage is a corporation or other entity, the signature for the entity on the endorsement may be made by any person authorized by the entity to do so; or 

   b.   An instrument constituting a satisfaction of mortgage meeting the requirements for recordation, including acknowledgment or proof, is filed with the county recording officer. 

   L.1991,c.308,s.5.