How many days does a mortgagee, creditor, or assignee have to record a satisfaction after full payment has been received?

The correct timeframe for a mortgagee, creditor, or assignee to record a satisfaction after full payment has been received is 60 days. This requirement is established to ensure that borrowers can quickly obtain clarity regarding the status of their mortgage and avoid potential complications stemming from delayed documentation. Timely recording of a satisfaction not only benefits the borrower by clearing the title but also ensures that the public records accurately reflect the ownership and any encumbrances on the property.

Given the context of the other available options, it is important to recognize that shorter or longer timeframes may not provide adequate protection or transparency for the interests of borrowers. A 30-day requirement could be too brief, especially in situations where the payment process might involve delays or other complexities, whereas 90 or 120 days may unnecessarily prolong the burden on borrowers waiting for their mortgage satisfaction to be officially recorded. Thus, 60 days strikes a balance between efficiency and ample time for the necessary recording processes.