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MERS Wins a Key Lawsuit Against County in New York.(regulations)
McLean, VA -- In a nod to the legitimacy of MERS, the Appellate Division of the Supreme Court of New York on Dec. 19, 2005 issued a unanimous 4-0 decision that requires county clerks to record all mortgages, assignments and discharges naming MERS as the mortgagee or as nominee for a lending institution (in the matter of MERSCORP Inc. et al. v. Edward P. Romaine et al. 2005 NY Slip Op 09728).
In its recent decision, the court ruled that the clerk has no independent authority to refuse to record MERS instruments, stating, "The clerk has a statutory duty that is ministerial in nature to record a written conveyance if it is duly acknowledged and accompanied by the proper fee. Accordingly, the clerk does not have the authority to refuse to record a conveyance which satisfies the narrowly drawn prerequisites set forth in the recording statute."
As a result of the ruling, MERS has informed all New York counties of the Appellate Court's decision and has instructed all affected members on steps to refile all previously rejected lien releases.
"This is a great victory for MERS," said R.K. Arnold, president and CEO of MERS. "We expected to win, but it's gratifying to get more clarity around our status in New York. I believe that this will set an important ...
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Source: HighBeam Research, MERS Wins a Key Lawsuit Against County in New York.(regulations)