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§ 630. Short form mortgages

Purdon's Pennsylvania Statutes and Consolidated StatutesTitle 21 P.S. Deeds and Mortgages

Purdon's Pennsylvania Statutes and Consolidated Statutes
Title 21 P.S. Deeds and Mortgages (Refs & Annos)
Chapter 2. Mortgages (Refs & Annos)
Recording of Mortgages (Refs & Annos)
21 P.S. § 630
§ 630. Short form mortgages
When a stipulation of general mortgage provisions has been recorded in any county, the party filing the same may thereafter record in that county, as evidence of its mortgage loans, instruments to be known as short form mortgages. A short form mortgage shall set forth the date on which it is executed, the names of the parties thereto, the amount of the indebtedness secured or to be secured thereby, the description of the real property mortgaged as security for the indebtedness, and a statement incorporating by reference the general provisions, covenants, conditions and obligations recited in the lender's recorded stipulation of general mortgage provisions and citing the volume and page of the mortgage book in which such stipulation is recorded. A short form mortgage shall contain a defeasance clause and any special provisions, covenants, conditions or obligations of the parties, and shall be signed and acknowledged by the mortgagor in the same manner as any other real estate mortgage. Following the acknowledgment, and under the caption “General Provisions Incorporated by Reference and Not to be Recorded Herewith,” there shall be inserted an exact copy of the general provisions, covenants, conditions and obligations set forth in the recorded stipulation of general mortgage provisions which are incorporated in the short form mortgage by reference.

Credits

1959, June 2, P.L. 452, § 2.
21 P.S. § 630, PA ST 21 P.S. § 630
Current through Act 4 of the 2024 Regular Session. Some statute sections may be more current, see credits for details.
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