The link below should be mandatory reading for ALL Clerks of Court....and a good read for anyone interested in BUYING or SELLING Real Estate.
http://www.foreclosurehamlet.org/profiles/blogs/toxic-discharge-tutorial1) *ALL* liens must be properly registered against the property in which they encumber (called actual notice or notice to the world that there is a lien against real property - this dates back to 17th century property laws)
2) Modern day securities prove too complex for Main Street Recording Laws (failing to record lien holding interest)
A discharge from ANYONE but the REAL creditor means NOTHING.
A Straw Man’s interest won’t do (Rule 10b-5)
You may ask why I post this...good question. Rule 10b-5 applies to citizens only...apparently "lenders" have exempted (illegally) themselves from this with tacit approval from your County Recorder's Office.
Meaning: millions and millions of dollars due and payable by "lenders" and their agents do NOT land in your County's tax coffers.
This is broadly termed as "Title Washing".