Thursday, March 31, 2011

MERS Update

I wrote earlier that a New York bankruptcy judge determined that the MERS system was flawed and "absurd". However, courts in California and New Hampshire have determined that the system is legal. MERS will be under attack by county registers of Deeds since MERS circumvented the filing fees in many cases. In one such case, Massachusetts is seeking over $22 million in back recording fees.

There will continune to be inconsistent results in all such cases as they will be determined on a case by case basis, and states have different laws and regulations...

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