Escrow & Title
A title search finds a 15-year-old mortgage that was never formally discharged. Under Maine's Marketable Record Title Act (40 years), this mortgage would typically be:
AStill fully enforceable
BExtinguished if it has not been preserved by re-recording✓ Correct
CAutomatically discharged after 10 years
DOnly extinguished if a court order is obtained
Explanation
Under Maine's Marketable Record Title Act, interests and claims older than 40 years that have not been preserved by re-recording are extinguished. A 15-year-old unreleased mortgage is NOT yet extinguished by MRTA (it is less than 40 years old).
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