13 Southeast Transaction Guide § 246.222

Summary

• [1] Comment
  • [a] Use of Form.

    This mortgage incorporates by reference an earlier recorded master mortgage form [see [b], below]. If a lender intends to record several mortgages subject to the same general provisions, covenants, conditions, and obligations in the same county, it may be more economical and less time-consuming to record a single master mortgage containing the provisions that will be identical in all the mortgages. Then the lender may simply record a short form mortgage containing only those provisions unique to an individual mortgage transaction and incorporating by reference the lengthy master mortgage.

  • [b] Recordation of Blank or Master Form of Mortgage.

    Any person may have a blank or master form of mortgage filed, indexed, and recorded in the office of the clerk of the circuit court. When any instrument creating a lien on real property incorporates by reference all or some of the provisions, terms, covenants, conditions, obligations, powers, and other contents of the master ...