An Act To Protect Consumers against Residential Real Estate Title Defects
Maine Legislature, Session 127, LD 0321
Committee Amendment CA_A_H425 (House)

COMMITTEE AMENDMENT" A" to H.P, 215, L,D, 321, Bill, "An Act To 
Protect Consumers against Residential Real Estate Title Defects" 
Amend the bill in section 1 in §508 by striking out all of subsection 1 (page 1, lines 4 
to 13 in L.D,) and inserting the following: 
'1. 
Au~h.ori!y presumed. A person or entity that is named as nominee to hold a 
mortgage for another person or entity, in an instrument creating or ~ssigning the 
mortgage, is presumed to have the authority to execute an assignment, partial release, 
discharge or other instrument that affects the title to the mortgaged property unless the 
person or entity on whose behalf the nominee is named: 
A. Explicitly negates such authority within the insttument in which the nOminee is 
named; or 
B, Executes a separate instrument that explicitly neg[ites such authority and that is 
recorded in the registry of deeds within the county or district in which the mOligaged 
property is located,' 
Amend the bill in section 1 in §508 by inserting at the end the following: 
'4. Application. This section applies exclusively to any discharge or partial r~lease 
issued prior to the effective date of this section, whether made by a nominee mortgagee or 
by a sl;lbsequent assigt)ee; to discharges or partial releases iss.ued on or subsequent to the 
effective date of this section, whether made by a n()minee mortgagee or by a sllbsequent 
assignee; and to any assignment or other instrument affecti,n.:g title to a mortgaged 
prope~ty that is the subject of a foreclosure judgment or oti1er legal j~dgmel?-t affect~ng 
title to a mortgaged property for which, as of the effective date of this section, either the 
period for appeal has run with no, appeal having been filed or all, rights ()f ~p1?eal h.ave 
been exhausted.' 
COMMITTEE AMENDMENT 
COMMTTIEE AMENDMENT "A" to H.P. 215, L.D. 321 
SUMMARY 
This amendment clarifies that a person or entity may be named as nominee to hold a 
mortgage. 
This amendment provides that the provisions of the bill apply to the 
following: 
1. A discharge or partial release issued prior to the effective date of this legislation, 
whether made by a nominee mortgagee or by a subsequent assignee; 
2. A discharge or partial release issued on or subsequent to the effective date of this 
legislation, whether made by a nominee mortgagee or by a subsequent assignee; and 
3. An assignment or other instrument affecting title to a mortgaged property that is 
the subject of a foreclosure judgment or other legal judgment affecting title to a 
mortgaged property for which, as of the effective date of this legislation, either the period 
for appeal has run with no appeal having been filed or all rights of appeal have been 
exhausted, 
FISCAL NOTE REQUIRE]) 
(See attached) 
COMMITTEE AMENDMENT 
Revised: 06/08/15 . MaC'.-
LD 321 
LR 1156(02) 
An Act To Protect Consumers against Residential Real Estate Title Defects 
Fiscal Note for Bill as Amended by Committee Amendment '~' (H -Y-J 5) 
. 
Committee: Judiciary 
Fiscal Note Required: Yes 
Fiscal Note 
Minor cost increase - Other Special Revenue Funds 
Fiscal Detail and Notes 
Any additional costs to the Department of Professional and Financial Regulation related to the provisions of this bill 
are expected to be minor and can be absorbed within existing budgeted resources. 
LRl156(02) - Fiscal Note - Page 1 of 1