Finance
In New York, a 'mortgage satisfaction' must be recorded by the lender within how many days of receiving full payoff?
A30 days
B45 days✓ Correct
C60 days
D90 days
Explanation
Under New York Real Property Law §275, a mortgagee who receives full payment must record a satisfaction of mortgage within 30 days and deliver it to the mortgagor. Failure to do so can result in liability for damages.
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