Changes in Mortgage Cancellation Rules and Procedures

Act 169 of 2005, concerning the law of registry went into effect July 1, 2006. Among other things, the Act makes significant changes in the area of mortgage cancellations and in the manner of requesting a cancellation. We have revised our request to cancel form to be in compliance with LA Civil Code Article 3366. It, and other pertinent forms and documents are available for download in Microsoft Word, WordPerfect, and Adobe Acrobat formats. Click here to visit our Downloads web page.

On July 1, 2006, lost note affidavits have been for the most part replaced under LRS 44:109, which authorizes an authentic or authenticated act from a licensed financial institution to direct the Clerk to cancel the mortgage inscription. In short, you are no longer able to cancel based upon a lost note affidavit, except in the case of a notary who lost the note. If an individual holder (namely NOT a licensed financial institution) loses a paraphed note, the effect of the new law is to require a mandamus in order to cancel.

The changes in the laws of registry are many. Please take some time to review Act 169 in its entirety. Be advised that any documents received by the Clerk's office on or after July 1, 2006 must be in compliance with the new law.