The law firm of Bose McKinney & Evans LLP will host a conference for financial institutions on Friday, May 4, to discuss new rules governing mortgage expiration dates. Through Senate Enrolled Act 298, mortgages with no stated maturity date will expire 10 years after the execution date (or 10 years after recording if the execution date is not shown). Under current law, the expiration period is 20 years.
The new statute goes into effect July 1, 2012.
As was permitted with prior law, a lender can extend the expiration date of a mortgage that does not include a maturity date by filing an affidavit with the appropriate county recorder before the applicable expiration date that states when the debt becomes due.
During the roundtable discussion, Bose McKinney & Evans attorneys will share the developing concepts. Ideally, bankers attending this conference also will share the plans and strategies they are considering to address the mortgage expiration issue so that all lenders may benefit from collective attempts to define best practices to deal with the changes in law.
Reservations for the free event are required as seating is limited. To register, go to www.boselaw.com/events-seminars.cfm.
- When: May 04, 2012, from 8 a.m. to 9:30 a.m.
- Where: Bose McKinney & Evans, 111 Monument Circle, Suite 2700, Indianapolis
- Cost: FREE
- Contact: Kelly Gerboth
- RSVP: kgerboth@boselaw.com
